Spend Management Fintech Brex Introduces Tool to Streamline Work Processes, Increase Productivity

Brex, the unified global spend platform, announced the launch of Brex Assistant, a proactive assistant that simplifies expense management for employees and improves their productivity.

Brex Assistant is the flagship product of Brex AI, “a suite of capabilities that transform spend management to enable unprecedented levels of efficiency, compliance, and accuracy.”

Brex Assistant uses the power of natural language and autonomous AI agents, “combined with data integrated from calendar information, organizational context, past expenses, and exclusive integrations, to automatically populate expense documentation and assign the expense to the appropriate category and budget with unparalleled accuracy.”

For example, Brex Assistant knows when “an employee is traveling for work based on their calendar.” When they book a flight, Brex Assistant automatically “assigns the appropriate travel budget, fills out the business memo, and generates the itemized receipt.” The expense is fully compliant “with the company’s policies, all without any employee effort.”

In addition to automating expense information, Brex Assistant has the ability to:

  • Answer questions employees would traditionally ask their finance team such as “How much am I allowed to spend per day at the offsite?” and “What other restrictions apply for this trip?”
  • Respond to and execute employees’ commands on how to best complete expenses with simple prompts such as “Route all charges from DoorDash to my WFH Meal Stipend.”
  • Answer questions about a past transaction to help employees remember the business context, such as “What was on my calendar when I expensed this Uber?”

While Brex has been leveraging AI since inception across underwriting, fraud, receipt matching, merchant categorization, and other product areas, it has dialed up its AI investments over the past year, particularly in customer-facing applications.

With these capabilities, Brex has:

  • Saved the average enterprise customer 300 hours per month in employee expense compliance effort
  • Saved customers an annualized $18M+ by blocking out-of-policy spend through AI-powered controls
  • Automatically generated over 1.4M receipts and 1M receipt memos
  • Automatically GL-coded millions of transactions to minimize manual finance team reconciliation
  • Automatically filled more than 450,000 reimbursements for employees through optical character recognition (OCR) technology
  • Automatically approved more than 2.7M in-policy expense transactions

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