American Express (Amex) and Microsoft are expanding their existing partnership to develop a suite of solutions to enhance the expense report management process.
These
new solutions will leverage Microsoft’s Cloud and AI technologies to
facilitate business travel for employees and businesses.
- According to a recent Amex news release, the new solutions will use AI and ML to streamline and automate manual expense reporting and approvals.
- The
system will implement an AI-powered decision engine to categorize
transactions by risk score based on transaction data, a company’s
specific Travel and Expense policy, and the traveler’s purchase and
payment history on their Amex corporate card.
- The
risk scores are then forwarded automatically to a company’s expense
management system, which auto-generates reports to assist managers and
auditors in their decision-making.
- The AI is sourced directly from Microsoft Cloud, not through Microsoft’s partnership with OpenAI.
- Microsoft
will be the first company to trial the expense management system, which
will later be generally available to more Amex corporate clients.
