TripActions Launches AI and ML Tool, Auto-Itemization, to Save Time on Expense Reports

In development for more than a year, Auto-Itemization from TripActions Liquid is a solution that automatically splits transactions and attributes each line item to specific expense policies. The technology allows a user to upload a receipt for automatic itemisation; using AI, foreign language translation and fuzzy matching, each line item is categorised and assigned to a specific policy with 90 per cent accuracy. The use of machine learning also ensures that accuracy will increase over time. Single transactions often consist of multiple parts or line items -- like variable daily service charges for a hotel stay -- that need to be reported independently for accounting and tax purposes. The cost of the room needs to align with a company's hotel policy, while the room service that employee orders can align to a per diem for meal costs.