Emburse is launching its new Travel and Expense Analytics
tool, which includes a series of AI-powered dashboards to optimize and gain
insights around spending, the company announced.
The tool was built from Emburse’s datasets that include more
than $100 billion in expenses and $200 million in receipts and folios,
according to the company. The tool uses AI to normalize data—clearing up vendor
naming discrepancies, for example, or standardizing spend types across
categories—and can analyze both on-channel and off-channel spending.
“With complex data flowing in from fragmented sources,
most solutions offer an incomplete view,” Emburse chief product officer
Paul Nagy said in a statement. “Emburse Travel and Analytics surfaces the
metrics that matter, making it easier for finance teams to make strategic
decisions that shape better business outcomes.”
Capabilities of the tool include identifying spending beyond
negotiated rates and how much of the costs can be recovered, identifying top
spenders and offering coaching or policy adjustments to mitigate that or gain
insights on negotiations and vendor decisions with benchmarked spending analysis
across cities and markets, according to Emburse.
Emburse said the new dashboards will be available this
summer via its Travel Analytics portal, and it plans to launch more throughout
the year.
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