Story image

How AI will impact invoicing and expense compliance – Concur

04 Jul 2017

Advancements in artificial intelligence (AI), machine learning and big data are helping organisations optimise their business processes to save time, simplify tasks, and deliver richer, more personalised experiences.

And the best is yet to come, according to Concur.  Matt Goss, Concur ANZ managing director says, “There is an air of disruption in the business world. The next wave of cost savings and efficiency improvements will be based on advanced technologies like AI, machine learning, and big data.

“These technologies are strategically poised to bring actionable intelligence and automation to compliance with key business processes like travel and expense management, and invoicing.”  Concur has outlined three examples of how this technological revolution is driving unprecedented change across travel, expenses, and invoicing.  1. AI  Whether it’s booking a business-class flight against company policy or submitting a meal expense claim that exceeds set limits, AI is assisting companies to detect noncompliance with company travel and expense policies.

Automated technologies can track spending and analyse attributes, and then identify anomalies and patterns in employee expense reports.

Companies can then use this information to uncover new ways to reduce costs and improve efficiency.  Able to learn from the data it processes, the more data AI systems process, the more effective the systems become.     2. Machine learning  A type of AI that enables computers to learn from data using algorithms and find hidden insights without being explicitly programmed, machine learning has been described as the next competitive frontier.

Businesses who have machine learning models that perform the best will differentiate themselves and offer a competitive advantage.  “The days of paper receipts are quickly passing, with airlines and hotels typically sending electronic receipts and itineraries via email,” Goss says.

“The Microsoft Office 365 integration with Concur Expense also uses machine learning technologies to allow users to create expense report entries directly from an email or calendar invitation.” 3. Big data 

Using advanced technologies and automated solutions, businesses can collect, store, and analyse data collated across the enterprise.

This lets businesses gain insights, have visibility and control of business spend, identify new opportunities, and set clear priorities to achieve business and financial goals.     Goss says, “Leveraging the breadth and depth of data from its 45 million users, Concur can analyse behaviours, pinpoint trends, and bolster its solutions to help customers adapt to an ever-changing world.”         

SAS partners with NVIDIA on deep learning and computer vision
“By partnering with NVIDIA, we combine our strengths to augment human intelligence and realise the true potential of AI.” 
Why businesses must embrace automation to ensure success
“For many younger workers, the traditional view of a steady job at one company, perhaps for life, simply doesn’t reflect reality."
Dropbox invests in hosting data inside Australia
Global collaboration platform Dropbox has announced it will now host Australian customer files onshore to support its growing base in the country.
TYAN unveils new inference-optimised GPU platforms with NVIDIA T4 accelerators
“TYAN servers with NVIDIA T4 GPUs are designed to excel at all accelerated workloads, including machine learning, deep learning, and virtual desktops.”
Worldwide spending on security to reach $103.1bil in 2019 - IDC
Managed security services will be the largest technology category in 2019.
How Cognata and NVIDIA enable autonomous vehicle simulation
“Cognata and NVIDIA are creating a robust solution that will efficiently and safely accelerate autonomous vehicles’ market entry."
Kinetica launches a new active analytics platform
"With the platform now powered by NVIDIA DGX-2, customers can build smart analytical applications that combine historical data analytics and ML-powered analytics."
Avi Networks: Using visibility to build trust
Visibility, also referred to as observability, is a core tenet of modern application architectures for basic operation, not just for security.