TripActions has unveiled an improvement to its expense tool Liquid, claiming it will revolutionise what has historically been a “frustrating, 10-step manual process” and save companies “countless” hours.
Particularly useful for expense claims following hotel stays, the Auto-Itemisation technology allows a user to simply upload a receipt for automatic itemisation.
Using AI, foreign language translation and fuzzy matching, TripActions says each line item is categorised and assigned to a specific policy with more than 90% accuracy. The use of machine learning ensures that accuracy will increase over time.
“Traditionally, finance teams manually checked every single receipt that’s been uploaded into their expense management system. This leads to countless follow-ups with the cardholder for additional context, creating a time-consuming and frustrating experience for everyone involved,” says Michael Sindicich, GM and Head of TripActions Liquid.
“The amount of busywork that Auto-Itemisation reduces for finance teams and users is absolutely game-changing.” TripActions Liquid today also enabled a ‘freemium’ option for clients with fewer than 100 employees.