Brex, the financial technology company, has launched an artificial intelligence (AI)-powered assistant named 'Brex Assistant' on Thursday. The new tool is designed to simplify and enhance employee expense management, making it a part of the larger Brex AI suite aimed at making spend management more efficient and accurate.
The company announced on Wednesday that the Brex Assistant uses AI technology along with data from calendar information, organizational context, past expenses, and exclusive integrations to automatically populate expense documentation and assign expenses to the appropriate category.
In addition to automating tedious tasks like traveling, budgeting, and expense management, the assistant can answer employee queries about past transactions and expenses that would typically be directed to their finance team. This feature aims to increase productivity by reducing time spent on administrative tasks.
"Brex is known for offering an amazing employee expense experience, and by giving everyone an assistant of this caliber, we’ve shipped our most groundbreaking experience yet," said Henrique Dubugras, Brex’s co-founder and co-CEO. He added that finance teams and managers can expect record-breaking employee compliance levels and increased productivity.
In August 2023, Brex introduced an AI-powered accounts payable (AP) solution to its platform that combined enhanced bill pay capabilities and purchase cards. Dubugras emphasized the importance of this feature, stating that it allowed companies to control all non-payroll spend, invoiced or otherwise.
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