Founder: Anant Kale and Kunal Verma
Description: Helping modern finance teams lead the way with artifical intelligence
AppZen, the leader in Finance AI software founded in 2012, is redefining the way technology is used within finance departments. Over 1,800 enterprises use AppZen to automate expense and accounts payable processes, reduce expenditures, and gain real-time insights into their business spend trends. AppZen’s patented software is the only automated spend validation that understands financial transactions and enables automatic decisions based on finance policies.
The global company now services over ⅓ of the Fortune 500 finance departments, and processes more than 9 Billion transactions every year. AppZen has saved customers over $500 million and increased efficiency by 90% by eliminating 1.7 million hours of manual work.
Last September, AppZen launched Mastermind Analytics, which identifies spend risks and provides the first on-demand finance benchmarks. As more CFOs take the lead on digital transformation, Mastermind Analytics provides on demand insights and analytics into spend, risk and operational performance to aid decision making around business spend. Last month, AppZen introduced Autonomous AP, which uses AI to extract, validate, classify, match, review, and approve invoice documents and spend within minutes and without manual work. With automation, and thus little human intervention, finance professionals can focus on more strategic tasks like compliance and risk management, disrupting cumbersome and inefficient workflows.