Spend management platform Airbase in recent weeks announced new generative AI capabilities it says provides a “touchless expense report creation experience.”
Airbase—which offers an AP automation platform expense management technology and a corporate product and typically focuses on companies with between 100 and 5,000 employees, according to founder and CEO Thejo Kote—already had incorporated machine-learning technology and optical character recognition technology in its products. The latest features, tapping generative AI, can extract details from a receipt and fill out the expense report for employees.
Kote said the goal is not to claim “elimination” of the expense report, but to minimize the work around it.
“There will always have to be some process for employers; it’s how do you simplify the experience where in the vast majority of cases, the only thing employees have to do is take a photo of the receipt, and that’s it,” he said.
Those AI capabilities include being able to extract expense reasons, categorizations and details for memo fields, Kote said. “When you review the expense report, you can find AI has filled out every field,” he said.
The new features also build on Airbase’s integration with TravelPerk, announced earlier this year, according to the company. Airbase has been pointing prospective clients to TravelPerk, as its own technology does not support travel booking, Kote said.
Airbase currently is able to support reimbursements in 46 countries and payments in 34 currencies, according to the company.
