The Executive Dashboard provides a high-level view of the estimated spend reduction from reports rejected by auditors, highlights the total out-of-policy detected, and estimated manual hours the auditors saved by using AppZen to audit and auto-approve low-risk (and medium-risk if applicable) reports.
Track Estimated Spend Reduction from Rejected Expenses
Gain visibility of the estimated spend reduction based on the total amount of rejected expenses over a period of time. T&E managers can use this information to pass along to stakeholders and the executive team.
The metrics are calculated with consideration to two different variables:
This tracks the difference between the total of the original report that was rejected and the re-submitted report – i.g. if the original report that was rejected was a total of $100.00 and after it was re-submitted the total is $75.00, then the savings would be $25.00.
This tracks the total amount of a report that was rejected and not re-submitted.
In the near future, the auditor will have the ability to drill down to view the estimated spend reduction from month to month.
Track Total Amount of Out-Of-Policy Spend
Gain visibility of the total number of expense reports that were submitted with out-of-policy expenses and the total amount these out-of-policy expenses by unauthorized expense categories. These metrics provide insights for T&E managers to see which out-of-policy expenses account for the most money and quickly identify problem areas the company can take action to clean up poor spending behavior.
The metrics are calculated by adding up the total amount of each expense marked as a high-risk for unauthorized spend.
View a Monthly Breakdown by Category
To view a monthly breakdown of out-of-policy spend by a specific category simply click on the bar chart. A bar chart will appear below the “Top 10 Out-Of-Policy Spend By Category” bar chart providing a month to month view of the category selected.
Track Audit Process
Gain a better understanding of audit process savings with the use of AppZen. The Executive Dashboard delivers metrics that help companies better track process improvements with the help of AI-based auditing including visibility of the total number of reports and total amount of spend that was audited and auto-approved by Appzen as well as an estimated number of hours saved based on the total number of lines audited and auto-approved by Appzen.
There are three different metrics that are calculated as follows:
Auto-Approved Expense Ratio
This tracks the ratio of auto-approved reports over the total reports submitted. Auto-approved reports are typically low- and medium-risk reports.
This tracks the total amount of the reports that were auto-approved over a selected period of time.
Estimated Manual Hours
This metric represents the estimated time it would have taken an auditor to review the total reports auto-approved by AppZen. This is calculated by multiplying the total lines auto-approved by the average estimated time it takes to review an expense line (20 seconds).
Adjust the Executive Dashboard View with Filtering
A variety of filters provide the ability to tailor the Executive Dashboard to accommodate the needs of the customer. These filters help segment the data to view the metrics based on different organizations, currency, and time periods.
Filter by organization
Filtering by organizations can be set to view the Executive Dashboard metrics by a single organization, multiple organizations, or all organizations.
Change dashboard view by different currencies
The Executive Dashboard view can be changed to display the analytics by different currencies. AppZen will convert all reports to the same currency to keep the data consistent and easy to understand. In other words, it will provide a holistic view of global T&E spend by converting expense reports from other currencies to the currency of your choice.
The list of available currencies is dependant upon your organizations – if there are two organizations set up in two different currencies (US/USD and GB/GBP) then the customer will have two currencies available in the Expense Dashboard (USD and GBP).
Change dashboard view in different timeframes
The dashboard view can be changed to show metrics in two different timeframes: Last 12 months or Last 4 quarters.
Hover Over Charts to Learn More
Hovering over the bar charts for Spend Reduction, Auto-Approve Amount, and Top 10 Out-Of-Policy Spend by Category will provide more in-depth information. For example, hovering over a bar in the Top 10 Out-Of-Policy Spend by Category chart will display the out-of-policy expense category, the total count of expense reports flagged for these out-of-policy expenses, and the total amount expensed within the category.
Download a PDF of the Executive Dashboard
To download a PDF of the Executive Dashboard select the “Reports” button in the top-right corner.
This PDF will include an overview of the four tiles at the top of the Executive Dashboard and the charts from the tile selected. For example, if the Reduce Spend tile is selected then the PDF will only show the “Estimated Spend Reduction” bar chart.
Added False Positive and False Negative Feedback Capability
Auditors can now provide false positive and false negative feedback prior to a program going live. This means that customers in parallel run will be able to provide helpful feedback to influence the training of the AI and provide valuable data that will improve the accuracy of the audit over time. (Low and High)
NOTE: Customers in parallel will still not be able to approve or reject a report
Merchant Blacklist Bug Fix & Improvements
The Merchant Blacklist model flags any merchant that has been blacklisted by the customer. To blacklist a merchant, the Functional Admin will need to enter the name of the merchants that are exempt from the company policy within the Merchant Blacklist model configuration page.
In some instances, the model was not flagging blacklisted merchants due to more than one space added before a word, after a word, or between words. For example, ‘Krispy Kreme’ would not be flagged if the Functional Admin listed the blacklisted merchant as ‘Krispy Kream’ (notice the multiple spaces.) The latest fix has improved the model to detect blacklisted merchant names regardless of the number of spaces.
To improve the success and accuracy of AppZen detecting blacklisted merchants, the model will be looking at both the merchant name and the transactional merchant name. In some cases, these will be different. For example, the transactional merchant name can be a holding company and the merchant name can be the subsidiary name. In these instances, if only one of the two were listed as a blacklisted merchant, the model would flag the expense as high-risk.
Merchant Category Model Improvement
This model has been improved to increase the accuracy and identify subtle nuances in language to detect the Department Store category – for example, if the category is labeled as Department Stores with an ‘s’ at the end as opposed to Department Store (singular) it will recognize this expense as apart of the Department Store Category to run an accurate audit check.
Improved Coverage for Models Using the Attendee List
There are a number of different models that use the attendee list to detect potential risks. Models like Attendee Verification, HCP Check, and Manager Attendee review the attendee list to detect potential regulation violations. Other models like Restaurant Price Check use the attendee list to calculate if the total spent on the meal is within the average price range per person.
Usually, the attendee list is attached to the parent level of a line item. However, there are times where an employee itemizes a meal and attaches some or all attendees to the child level.
Model coverage has improved to now review the attendee lists attached to both the parent and child level of an itemized expense.
NOTE: This logic will only apply to an itemized “Meal” expense type.