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Navan Expense: Spring 2026 Product Release On-Demand Webinar — Transcript

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0:00All righty.
0:01We're going to get started. So, hello
0:03everybody.
0:04Uh welcome to the Navan Spring Expense
0:07Product Release Webinar. Uh I'm Josh
0:09Truck on the Navan Expense and Payments
0:11Product Marketing team, and I will be
0:13your MC for today. So, it's great to see
0:15so many folks coming in, and we have
0:17more trickling in by the second, so we
0:19appreciate you being here. Uh excited to
0:21showcase what the team's been building
0:23and delivering to thousands of customers
0:25across the globe. So, just a few quick
0:28reminders before we get started.
0:31Uh Google Chrome will likely be uh give
0:33you the best experience. Uh if you have
0:35questions, we highly encourage them
0:37throughout. Please pop them in the Q&A
0:39tab at any time. Uh some of our product
0:42experts might answer your questions
0:44during, but we'll also have a dedicated
0:46Q&A section at the end. Um one other
0:49reminder, what we're covering today is
0:51confidential information. So, if you're
0:53a Navan customer and you want to go
0:55deeper into anything we discuss, please
0:57reach out to your account manager.
0:59Uh if you're not a Navan customer and
1:01you want to learn more, we can set up
1:03time with a member of our sales team or
1:05product team. Just mention that in your
1:07Q&A question, as well.
1:09Uh and yes, we will email you a
1:12recording after. Uh we'll also send a
1:14survey at the end to let you know or to
1:16ask about your experience and see how we
1:18can continue to make these better and
1:19better.
1:22Next, so here's the team we're rocking
1:24with today. So, I'm joined by six
1:27wonderful members of the Navan Expense
1:29product team, including Chief Product
1:31Officer Yuval Refua.
1:36Oop. So, let's get into what we'll cover
1:37today. So, Yuval will kick us off with a
1:40look at Navan's expense vision uh and
1:42some shifts we're seeing in the market.
1:44Uh then we'll dive into four release
1:46areas, all built for trust, speed, and
1:48scale across your expense workflows.
1:51With that, I will pass it over to Yuval.
1:55Thank you, Josh. Hi, everybody. Nice to
1:57see you. I'm Yuval. I'm the CPO for
2:00payments and expense.
2:02And I'm really excited to tell you today
2:04about our vision and the latest product
2:06launches that we're doing.
2:08Let's get the next slide.
2:10Um so commerce is moving really faster.
2:14And the old expense model supported by
2:16the legacy systems is broken. It's
2:18inefficient. It's reactive and
2:21ultimately very risky to rely on.
2:24Usually, the first thing that happens is
2:26somebody swipes their card. Then finance
2:29teams chase policy, coding,
2:32reconciliation, and compliance after the
2:34fact.
2:35Good luck catching out of policy spend
2:37with that system.
2:39Uh it causes admin to react way too late
2:42with limited visibility and control,
2:44taking up to 60 days to identify a
2:46violation and close the books. While
2:49employees waste time submitting expenses
2:52and going back and forth with reviewers.
2:55For those employees, many of the legacy
2:58products show how broken the model is.
3:01It takes 45 minutes to book a trip and
3:0420 minutes to submit an expense. And
3:06that's before all the back and forth.
3:09I remember early in my career all the
3:11information I had to copy from other
3:13system and paste it into my expense
3:15system just in order to submit an
3:16expense report.
3:18So, moving on to the new world. Next
3:20slide.
3:22Um organizations need a proactive
3:26control before the spend happens. For
3:28employees, it should be quick and easy.
3:31They need a way more like experience. It
3:34needs to be simple, seamless, and low
3:36effort. That's why Navan built an
3:38intelligent layer that works in the
3:40background for employees, getting all
3:43the necessary data for them to automate
3:45the expense process. For admins,
3:48it's the complete opposite. They need a
3:51Formula 1 style of visibility and
3:53control with telemetry information
3:56coming at them, controlling every spend
3:58at scale. This is how they really
4:00squeeze those extra seconds from every
4:03lap.
4:04Admins want to control every dollar
4:06spent, but they need a product to
4:08enforce it at scale.
4:10To do that, we need to give them a
4:12system to partner with that they can
4:14trust, verify, ask questions, and
4:17identify anomalies.
4:19And because Navan expense is built on
4:22deep travel foundation, that trust layer
4:25comes with rich context, flexibility,
4:28and unified infrastructure.
4:31So, jumping into the next slide.
4:33Um today, we will show you exactly how
4:37we're delivering on this promise with
4:39products that we launch. The question
4:41that we always ask is how can we be the
4:44trusted partner for our admins and
4:47users? We'll talk about four things that
4:49we're delivering to customers. First,
4:52once you configure your policy and audit
4:54checks, our AI adapts your risk
4:57tolerance. It auto codes expenses for
5:00you and automates reviews.
5:02This is exactly
5:04what our policy and audit engine is all
5:05about.
5:07Next, AI-powered admins
5:10will make sure the right decisions are
5:12going to the right people. We'll suggest
5:15actions for admins on context, perform
5:18supervised tasks, and do the work when
5:20it makes sense.
5:22Third, for users to rely on the Waymo
5:26experience, we need to meet them where
5:28they are.
5:29Expense chat agents allow our users to
5:32drop receipts and context in their about
5:34their expenses, and we'll handle the
5:37rest in seconds.
5:39And lastly,
5:40trust has to work everywhere. Everywhere
5:43your business operates, whether that's
5:45ensuring European employees get expense
5:48advances, reclaiming VAT, tracking
5:51mileage, and more.
5:54With that said, I'll pass it over to
5:55Thomas to walk you through our policy
5:58and audit engine and show you exactly
6:01what proactive control looks like in
6:02practice.
6:05Amazing. Yeah, thank you Yoval and and
6:07yeah, thanks everybody so much for
6:08joining. I'll always love to have such a
6:10good group here.
6:12Um
6:12Josh, can we go to the next slide?
6:16Yeah, so I do want to start with this
6:18this poll.
6:19You know, I think as a former finance
6:21and accounting person myself, I have a
6:22lot of
6:23thoughts on this, but I'm curious to
6:24hear what kind of keeps keeps people up
6:26at night during during month-end close.
6:39Curious what the results are. Okay,
6:41chasing employees for missing receipts
6:43and information. Yeah, that's
6:45that's the
6:46the one we tend to hear the most, that's
6:47for sure.
6:48You know, I think it's
6:49kind of a constant battle and there's a
6:51lot that we're doing on our side to try
6:52to help, you know, fetch receipts
6:55automatically, remind people as much as
6:57we can, but but yeah, it's definitely,
6:59you know, always part of the job.
7:02Next slide, Josh.
7:05Cool. So,
7:07you know, I think
7:09just just to kind of level set a little
7:10bit on on kind of the next things we'll
7:12we'll we'll we'll talk about here is,
7:13you know, I think for finance and
7:14accounting teams, you know,
7:16a lot of times
7:18people don't get into finance and
7:19accounting
7:20in order to,
7:21you know, do all of this kind of menial
7:23work that
7:25that has to happen. There's a lot of
7:26other reasons why you kind of get into
7:27finance and accounting in the first
7:29place and I think a lot of the old way
7:30of managing expenses,
7:32you know, required
7:34disconnected systems and a lot of
7:37a lot of manual reviewers. So, yeah,
7:39third-party audit tools or a lot of
7:41manual coding or kind of rules-based
7:44coding that that, you know, got really
7:45complex and out of hand. Um, all sorts
7:48of reviewers that had to check
7:49transactions one by one to find,
7:52you know, audit issues or policy issues
7:54or coding issues. Um, you know, I think
7:57the vision that we have for Navan for
8:00finance and accounting teams is, you
8:02know, the ability to set up policy and
8:04audit checks up front in real time and
8:06have the software actually enforce those
8:09on your behalf. And also have agents
8:11that go through and code transactions,
8:13um, you know, based on your past
8:15patterns and based on transaction
8:16context and trip context and other
8:18things that we'll talk through after
8:19this. Um,
8:21so yeah, Kylie at Pendo, she's she she's
8:23great. Uh, she's she's their head of
8:25global accounting and, um, you know,
8:27really has seen a lot of benefit to to
8:29the use of Navan in terms of, um, you
8:32know, the way it's able to automate
8:34the approval and review of transactions,
8:36which has saved them a lot of work,
8:37which is great. Um, but yeah, with that,
8:40let's let's jump into,
8:41uh,
8:42to our audit engine, um, and kind of
8:44some of the more recent things we've
8:46built around that. So,
8:48today, um, you know, you can configure,
8:51if you go into policy settings flag
8:53management, you'll see kind of all of
8:55our audit flags. So, you know, of
8:58course, in our policy section, you can
8:59set up policy limits and receipt
9:01requirements and things like that. You
9:02know, that's kind of one part of it, but
9:04there's also all sorts of audit checks,
9:06right? So, excessive tipping or
9:08cigarettes, uh,
9:10on a receipt or, um, you know, booking
9:12amount mismatch or things like that.
9:14There's kind of this extra extra added
9:16layer where admins can go in and turn
9:19these flags on or off, set, configure
9:22different thresholds, um, for kind of
9:24your risk tolerance and and and your
9:25policy. Um, you know, I think a common
9:27example of this is late submission. So,
9:30if, uh, if your policy is that people
9:32can't submit after 60 days after the
9:34transaction has occurred, you can kind
9:35of set that threshold right here.
9:37Um and you know, I I I do want to call
9:39out one thing that that we've shipped
9:41recently
9:42um in here as well, which is the
9:43anti-corruption and bribery check. You
9:45know, I think this is it is pretty
9:46company specific, but you know, a lot of
9:48companies in order to comply with the
9:50Foreign Corrupt Practices Act
9:52kind of need um
9:54to screen transactions, you know, to to
9:57to find uh participants that are
9:59sanctioned or that are government
10:00employees. Um and you know, we're we've
10:03partnered with um with the London Stock
10:06Exchange Group uh
10:07to basically bring that directly into
10:09Navan at as an audit check. So, um
10:13yeah, this really gives you a lot of
10:15control up front to tell Navan, "Hey, go
10:17enforce all these policies on my
10:19behalf." And you know, that on top of
10:21our policy engine has has has led to the
10:23fact that 73% of transactions today
10:25flowing through Navan are completely
10:27touchless. Um and you know, we're we're
10:29trying to up that percentage as much as
10:31we can.
10:34Next slide, Josh.
10:36Yeah, I think that this is one part of
10:37this that I that I talked about, you
10:39know, we have agents um
10:41that screen receipts, L3 data, um
10:44transaction data um to find prohibited
10:47items. So, one thing for example is, you
10:50know, you you can flag uh
10:52transactions that have cigarettes or
10:54alcohol or gift cards on them for
10:55example. And of course, that's
10:56semantics. So, if it's
10:58if there's a receipt that says uh
11:00Marlboro Reds, you know, that's going to
11:02be flagged as, you know, cigarette being
11:04on the on on the transaction. Um you can
11:06also even do it by specific keywords
11:08that you care about. So, these are some
11:10of the keywords that a lot of our
11:11customers have kind of um decided to
11:13flag. And uh you know, anything around
11:16upgrades or massages or maybe um you
11:19know, dry cleaning at a hotel that
11:21people want to flag. There's a lot of
11:22customization here that you can really
11:23set up up front.
11:28Great. Um
11:30so, let me go through that that's kind
11:31of the audit engine. I think that
11:33I'd love to go through kind of our
11:34coding agent here because this is one of
11:36the more exciting things I think that
11:37we've been able to launch recently. Um,
11:39you know,
11:41pre-the world of AI, um, you know, you
11:44could kind of work to auto code
11:46transactions using,
11:47um, the MCC code of the merchant or, you
11:49know, the name of the merchant and and
11:51and different rules and things like
11:52that. And, you know, we've we definitely
11:54worked on that model for a while, but,
11:56um,
11:57the latest models, the most advanced
11:59models have gotten us to a point where
12:00we can really, really get intelligent
12:03about how we code transactions to the
12:05right expense type. Um, I have some
12:07reasoning examples up there.
12:09Uh, you know, for for for those that are
12:11that are interested, you can definitely
12:12read through it. But, um, you know,
12:14we're at a point now where we can code
12:16transactions to the right expense type
12:18with 90 plus percent accuracy,
12:20um,
12:21using receipt data, L3 data,
12:23transactional data, the user's role, the
12:26calendar invite, um, all sorts of
12:28things. I mean, you can see one example
12:30here is that, um,
12:32somebody registered for the McDonald's
12:34Worldwide 2026 conference. You know, in
12:36that case, McDonald's was the merchant,
12:38but our agent was able to see that, uh,
12:42that the receipt was for this conference
12:44and that the description included,
12:47um, some details about the conference.
12:49So, it was able to code it to
12:50conferences instead of meals.
12:52Um, I think that's just one one small
12:54example, but it really means that with
12:56all of the data we have as Navan, again,
12:58trip data, L3 data, receipt, all sorts
13:01of other things, you know, your past
13:02coding, um,
13:04we can really, really get much, much
13:05better here. And, we rolled this out
13:07fully for manual transactions as well as
13:09card transactions, um, yesterday. So,
13:12um,
13:13definitely a lot going on here, and, uh,
13:15I think the second part of this that I
13:17really want to double down on is that
13:20our, you know, kind of model and and and
13:23our agents are working to get smarter
13:25over time. So, we've we've basically
13:27built
13:28an ability for
13:30admins to come in and learn and and and
13:33kind of
13:34prompt the AI or give it training.
13:37Um so, today as an admin, if you go in
13:39and edit an expense type on a
13:40transaction, we'll actually prompt you
13:42to
13:43tell us why you updated it, you know, as
13:46if you're training someone new,
13:47basically.
13:48Um and then we take that and we can feed
13:49it back into our models to help get make
13:51the coding more and more accurate over
13:53time. So, I think that's I hope that's
13:55something that our admins can take
13:57advantage of.
14:04Do you want to hop into a straight demo,
14:05Thomas?
14:06Yeah. Yeah, let's do it.
14:09Cool. So, I'll I'll I'll demo two things
14:11today.
14:12Um
14:13I think I'll I'll I'll start here on the
14:14um on the flag management side. Um you
14:17know, I think this is something that
14:19hopefully most of your of you are
14:20familiar with, but yeah, if you go into
14:22configuration policy settings and flag
14:24management, you can kind of come in here
14:26and see all of our different audit
14:27flags, including the new um
14:30um
14:30kind of uh corruption and bribery check.
14:33And from here, yeah, you can set
14:35different thresholds, toggle these on or
14:37off for ones that you care about or
14:38don't care about, um
14:40set different things. So, if you want to
14:42catch keywords, like I said, or
14:44different um prohibited items on on
14:46transactions, you can catch that as
14:47well.
14:48I think this is another one I want to
14:49highlight, which is um auto-verifying
14:51receipts. So, receipts that are blurry
14:53or invalid, um you know, we're able to
14:56catch those as well um
14:58through through our audit checks. So,
15:00definitely something I think that's
15:01that's great for admins to leverage.
15:03Um
15:05I'll touch real quick as well on the um
15:07coding agent. So, I think
15:11you know, I love hearing feedback from
15:13finance and accounting teams as much as
15:14I possibly can, and so we track this
15:15very closely. But today, like I said, as
15:17an admin, if you come in here and you
15:19change uh the expense line item on on
15:21something, we'll prompt you to tell us
15:23why you made that change.
15:25Um, so you could say, you know,
15:27"Changed it because,
15:29you know, it was
15:30uh
15:31this user usually transacts at gas
15:34stations for gas."
15:36Whatever you want to say. Um, and once
15:37you submit that, that comes actually to
15:39me and our team in real time and we're
15:41able to feed back that feed that back to
15:42the model to improve the coding for you
15:44in the future.
15:46Um,
15:47so yeah, that's it on on our coding
15:50agents and um
15:52and and and our audit engine. And uh
15:54I'll pass it off to the next team.
15:59Thank you, Thomas. Um, great to meet you
16:01guys. I'm Pauline. I'm a product manager
16:04um on the expense admin team and I'm
16:06excited to kind of walk you guys through
16:08some of the exciting stuff that we're
16:09working on. Um, the way I like to think
16:12about this is, you know, here at Navan,
16:15we make um tracking and managing
16:18expenses very easy across the org. Um,
16:22up to I'd say like 75% of expenses by
16:25your employees are usually like
16:27auto-approved by the policy that you set
16:29up. Um, but today I will be spending
16:32some time talking about the 25% of these
16:35expenses that will go through manual
16:37reviews. And you know, at the end of the
16:38day, um you can only automate so much. I
16:41think the reason why these policies
16:43exist is to kind of um
16:46communicate to the org um the different
16:48ways they should be spending, but you
16:50know, for the ones that fall out of
16:52policy, how do we, you know, as admins
16:55review these in a more efficient and
16:57quicker way? I'll be chatting through a
16:59couple of um recent uh features that we
17:02shipped, but also focus a lot on some of
17:04the AI features that we have in the
17:06pipeline.
17:08So, to get started, um we wanted to uh
17:12run a poll. I think I kind of uh have a
17:14sense of the answer here um given the
17:17earlier poll as well, but I wanted to
17:20know what usually delays admins from
17:25easily, quickly resolving flagged
17:27transactions. Um, are you chasing
17:30employees? Oh, I lost the Okay, chasing
17:33employees, you're waiting for manager to
17:35approve, or there's just a lot of
17:37flagged transactions that pile up. So,
17:39pretty consistent, there's a lot of
17:41chasing, um, employees for a missing
17:43receipt, missing fields, missing
17:45information.
17:46Um, so I'm excited to chat through some
17:48of the efforts that we have, um, to make
17:50that, uh, easier.
17:52So, next slide. So, one of the things
17:54that we shipped recently, and this is
17:56kind of a result from one of the big
17:59pain points that we're hearing from a
18:01lot of admins, is while Navan makes
18:03expenses and expense tracking very easy,
18:06sometimes it's too easy. And, you know,
18:08managers will, um, go in and just
18:11approve things, um, so they're not the
18:13bottleneck, but sometimes they make the
18:15wrong approval. You know, sometimes the
18:16user, the employee doesn't hasn't
18:18provided the receipt yet, they haven't
18:20provided, you know, an updated, um, list
18:22of participants. And a lot of these
18:24wrong approvals actually cause a lot of
18:26downstream work and cleanup for the
18:28admin.
18:29Um, and especially since we just uh,
18:32shipped, you know, the ability to
18:34require review for all transactions, um,
18:37the number of transactions that and like
18:40kind of enter into the managers review
18:42queue, um, is is growing. Uh, so we
18:46recently shipped, um, kind of
18:49a contextual approval experience. So,
18:52previously, when a manager goes in and
18:53approves transactions, we have an
18:56optional, um, field for them to provide
18:59a note for the admin. Now, if we see
19:01that it's still missing information,
19:03then we require managers to, um, add
19:06more context or add more justification
19:08to that. Um, in addition to that, we
19:11also ship a ready to approve toggle um
19:14on the right here you can see.
19:16Um, so this one allows the manager to
19:19have a default view of flagged
19:21transactions that filters for the ones
19:25where all of the required documentation
19:28and receipts are available before
19:29managers go in and approve. This way
19:31it's easier for managers who
19:33understandably aren't as familiar with
19:35the product as maybe an admin is, um, to
19:38just know exactly where and what they
19:41need to approve and what when it's ready
19:43for for approval. Um, we've seen a lot a
19:46very promising results so far. Um, so
19:49we've seen uh like a 70% reduction in
19:52non-compliant approvals, i.e. like wrong
19:55approvals, um, because a lot of these
19:58workflows are a lot clearer.
20:00Um, and we also see a 50% reduction in
20:03time to approve transactions for for
20:06managers. So a lot of this we we think
20:09is because, you know, showing the ready
20:11to approve only queue for managers. It's
20:14so easy and simple for them that they
20:16can just go in and and kind of go
20:18through everything that needs approval
20:19without having to deal with, you know,
20:21trying to understand context for every
20:23single transaction.
20:26Next slide, Josh.
20:28Um, this is something that's coming.
20:31We're we're currently in a closed beta.
20:32If you guys are interested, please reach
20:34out to us so we can also onboard you.
20:36But we are bringing Navan to a Slack
20:39near you. Um, we know a lot of our uh
20:41customers use Slack as their main
20:43communication and collaboration tool
20:45within the org. Um, so we wanted to
20:48bring Navan to Slack um to make it
20:51easier for your employees and for your
20:53managers and approvers, um, to, you
20:55know, go through all of their tasks, um,
20:58on on Navan.
20:59Um, so for approvers, we're going to,
21:02you know, introduce a way for approvers
21:04to see all of their um ready to approve
21:06transactions with all of the context
21:08needed.
21:09And then for the employees, we make it
21:12easier for them to also see all of their
21:14flag transactions. They can upload the
21:16receipt, they can you know, add a
21:18description, add participants all
21:21without leaving Slack which we you know,
21:24we are hoping will bring down these like
21:26compliance times even even more.
21:30Okay, I want to spend some time chatting
21:33about the AI workflows that were you
21:36know, thinking about building internally
21:39and a lot of these are actually already
21:40in beta. So same kind of nudge through
21:43reach out to your AMs if you guys are
21:45wanting to
21:47take part in this beta program.
21:49But our vision really for admin AI is to
21:53automate all of the routine and
21:55predictable busy work that come with you
21:58know, manual reviews of expenses and
22:00empower admins to focus on a lot of the
22:03high impact
22:05kind of strategic governance type work
22:08without having to be bogged down by you
22:10know, chasing people, reviewing expenses
22:12that are likely you know, most of the
22:15time is is going going to be approved.
22:17And so a couple of things that you know,
22:19we have here is focused on
22:23making the spend review process a lot
22:26more automated
22:28and introducing you know, AI that learns
22:31from your past actions, your
22:34organization's policy and then comes up
22:37with these suggestions to make to make
22:40your lives like a lot easier. So one of
22:43these is the first one is suggested
22:44replies. So this is you know, touches on
22:46that chasing component where admins you
22:50know, most of the time spend a lot of
22:52time chasing employees for receipts, for
22:55missing information, missing
22:57participants.
22:59And you usually do that today through
23:01Navan. Um, you can request more
23:03information on transactions. And so now
23:05we automate that part and, you know,
23:07propose a message for you so that you
23:10can you don't even need to think about
23:12it. You can just send the message that
23:14we um, propose and then that model also
23:16learns from past messages that you've
23:19sent and picks up on your, you know, the
23:21way the the tone you use and the way you
23:24craft sentences um, so that it's very
23:26aligned to the admin's um, style. Uh,
23:29we're currently in a beta for this and
23:31we're up to 40% like acceptance and so
23:34that means, you know, 40% of the
23:36suggested responses are mostly accepted
23:39by admins from the get-go. Um, and we're
23:41looking to bring this up um, even more.
23:44The second part is about um, automated
23:46transaction routing. Um, and so this is
23:48where the AI um, we we we basically see
23:53um, what's the activity within
23:54transactions and we are able to
23:57automatically route, you know, a
23:59transaction where you have maybe a
24:01requested information back to flagged if
24:03we see that the employee has provided
24:05all the information. So this is where,
24:08you know, you can imagine an admin um,
24:10leaving a note for the user to add the
24:13receipt and add participants for this
24:15um, meal expense and once the user
24:18provides those information, we
24:20automatically either run it through the
24:22policy and maybe it gets auto approved
24:25or if it still flags the uh, if the
24:27policy still flags it, it goes back to
24:30your flag queue so the admin doesn't
24:31need to kind of think about, okay, what
24:33are the transactions that I've um, open
24:36requests on. They they immediately see
24:38everything in one place.
24:39Um, lastly, uh, we also have suggested
24:42actions. Um, so this is where we um,
24:45take it a step further um, through the
24:48your spend review process and look at
24:51the flag transactions and suggest
24:52actions based on your policy and, you
24:56know, your your personal tolerance for
24:59for for these like um policy flags.
25:02Um so, for instance, you might have a
25:05org policy that says that meals have to
25:09be under $25, but, you know, within the
25:12admin team, you know that if it goes
25:13over by 10%, usually um if it's, you
25:16know, justified, you see all the
25:17participants, you will go ahead and
25:19approve it anyway. And so, we pick up on
25:21these very nuanced um actions and
25:25nuanced like logic and apply it to the
25:28suggested action um so that you don't
25:30need to spend a lot of brainpower really
25:33understanding each transaction and um
25:36making a decision based off of that. So,
25:38this is what we have right now in beta.
25:41Um some of the things that we're
25:42planning to do in, you know, the next
25:44few months is taking this a step further
25:47and maybe, you know,
25:48where where you don't even need to go in
25:50and see the transaction or um generate
25:53like an action. We automatically, you
25:56know, you log into Navan, we give you
25:58everything you need to do based on um
26:00our assessment, and you click a button
26:02and then go through all of your open uh
26:04open transactions. So.
26:07Um
26:09yeah, Josh, next slide.
26:14Okay.
26:15Um so, to kind of wrap up, um a lot of
26:18what we've talked about is related to
26:21really streamlining your process from
26:23when the user, the employee, swipes
26:25their Navan card to um posting to your
26:28ERP. Um a lot of what Thomas talked
26:30about is about, you know, strengthening
26:33that automation arm and making sure that
26:35a lot majority of the transactions are
26:37auto-approved. A lot of what I talked
26:38about is, you know, that 25% of
26:41transactions that need to go through
26:43manual uh approval and you know,
26:45introducing ways to make that faster. Um
26:48so, next we have Amanda and she uh who's
26:51going to be talking about spend that
26:52happens outside of your Navan corporate
26:55cards
26:56and how we help you manage that better.
27:02Thank you for that
27:04Pauline. Hey everyone, my name's Amanda
27:07and I'm super super excited to share
27:09more about what the user experience is
27:11like.
27:12I'm one of the PMs on the user
27:13empowerment team. So very very excited
27:16to chat with you all today.
27:18Before I actually get into that Josh if
27:20you wouldn't mind staying on the
27:21previous slide.
27:23I wanted to just provide a little bit
27:25more context while people are filling
27:27this in.
27:28For those of you who have used Navan in
27:30the past you're probably familiar with
27:32our card solution. And if I do say so
27:34myself it is rather seamless and
27:35magical.
27:37But if you submit more out of pocket
27:38reimbursements with your personal card
27:41historically it's a little bit more
27:42tedious when it comes to setting setting
27:44up reimbursements. So if you're someone
27:47that tends to like to pile up receipts
27:49towards the end of the month it does
27:51take quite some time to get your
27:52reimbursements ready to go. And so that
27:54kind of leads into this question that we
27:56have in the poll asking the room here
27:58how long do you think it takes on
27:59average to submit an out of pocket
28:01expense.
28:03And interestingly enough majority of the
28:05users here are saying one to five
28:07minutes. But Josh if you wouldn't mind
28:09sharing the response that we see is
28:12actually closer to 11 and a half
28:13minutes. And this is in a general
28:15average right? So
28:17we have people who are submitting faster
28:19but generally people who take a bit more
28:20time.
28:21So that kind of gauges a little bit of
28:23why we went about solving this issue and
28:25that's where I would like to Josh if you
28:27wouldn't mind next slide introducing
28:30expense chat where our goal is to help
28:32you fill out your out of pocket expenses
28:35through the chat way. And what does that
28:36mean? We're trying to replace the
28:38current manual form process and clicking
28:41between multiple fields with a simple AI
28:43conversation. And as the end user what
28:45do you have to do? It's rather simple.
28:47You either have to drop in your receipts
28:49or provide as much context as you want
28:51regarding a mileage or any team outing
28:54or meal that you want into a chat and
28:56the agent handles the rest. So, what our
28:58agents are going to be doing is we're
29:00going to be looking at receipts, pulling
29:02in any relevant data regarding your
29:04transactions, your merchants, any tax or
29:06itemized uh line items. We'll also look
29:09at the individual user's information.
29:11What that means is if you have any
29:13bookings on Navan, we'll pull that
29:14information in. If you
29:16expense in the past as well, we'll also
29:18look at any expensing behavior and apply
29:20that to your transactions. All you have
29:23to do is validate and get those
29:24submitted.
29:25But, if for whatever reason you want to
29:27make any changes, how you can do that?
29:30I'll show you in a bit, but it's
29:31actually really simple.
29:33You can either type that into chat or I
29:36can show you a little bit more about our
29:37sneaky little shortcut function, which
29:39is super convenient when you have a
29:41bunch of transactions that you want to
29:42get submitted in one go.
29:44I'll make a call out that right now
29:46we've actually launched this chat
29:47function a little over a month ago for
29:50users that are primarily in the US and
29:52on the web app, but very quick soon
29:54we're going to be releasing out to the
29:56rest of EMEA as well as um moving over
30:00to mobile down the line. So, some
30:02exciting things to look out for.
30:04And Josh, would you mind sharing next
30:07slide?
30:08Like I said earlier, we've had this chat
30:10out for a little over a month now. We've
30:11been very, very pleased with how the
30:13user responses have been so far. So, on
30:16the top you just have some sample user
30:17sentiments of either users that were bit
30:20hesitant about an AI first chat function
30:23to all those that were super excited to
30:25play around with what chat means.
30:27Um on the bottom here you're going to
30:28see some high-level metrics of what
30:30we've seen so far. Particularly happy
30:32about the over $9 million submitted
30:34already in the last 9 weeks.
30:36The middle number 56 seconds is one of
30:39my favorites where we have a user that
30:41in one conversation and under a minute
30:43was able to get 24 expenses successfully
30:46filled in and submitted for their admins
30:48to review.
30:49And then the last number is our average
30:51customer satisfaction score right now of
30:53around 90, which is great.
30:55And then on the right over here, this is
30:57just a sample of how our users have
31:00already started adapting and learning
31:01how to get their expenses even more
31:04quickly ready to get submitted. So, this
31:06is a sample mileage transaction that has
31:08many, many stops.
31:10And traditionally, you may have to click
31:11between multiple different fields, look
31:13up the exact address, specify the route,
31:16but all you have to do is what we're
31:17calling one shot. Provide your entire
31:19story into one message, and the agent
31:21gets everything ready, and you just have
31:23to click submit. So,
31:25super convenient experience, and I think
31:28rather than saying more, I would love to
31:30dive into a demo.
31:34So,
31:36if you all can see my screen, this is an
31:38example of a user's um expense
31:41environment. So, how to actually access
31:43this chat? Right now, um if you click on
31:46new transaction, and if you either start
31:48from adding a receipt, typing in
31:50details, or log mileage, you'll be
31:53presented with an option to experience
31:55our chat. And every single time you
31:58submit a manual reimbursement, we ask
31:59you this up front, but eventually we'll
32:01move this out of the individual entry
32:03points. But let's say for now on to
32:05generative AI.
32:07And this is my landing screen. And you
32:10can either start typing in information
32:11on the bottom here, or let's grab a
32:13couple receipts.
32:15So, let's just grab three random ones
32:18that I have ready.
32:20And I can get those submitted.
32:25So, what's happening right now is our
32:27agents in the background are going to be
32:29going through multiple tool calls. So,
32:31what that means is we're going to first
32:32look at any receipt data that we can
32:34capture from our OCR, which includes
32:37anything from transaction date, amount,
32:39currency, items, etc.
32:42And from there, we're going to hand off
32:44now to looking at the actual user
32:46information. So, we're going to look at
32:47if this user has any trips on Navan that
32:50might have already
32:51that have been on the same transaction
32:53date, any calendar event, for example,
32:56that we can also tie this expense to if
32:58you have a calendar connected. And then
33:00the most magical piece is filling in any
33:03last remaining information that
33:06we can pull based on your expensing
33:08history. And so here, we have three
33:10transactions.
33:11And what's nice about chat, it now tells
33:14you, "Oh, you have two transactions that
33:16are missing a required field for
33:18fruits." And so, let's do a sample of a
33:21couple edits here.
33:23So,
33:24not by default right now, our Teleferic
33:27Barcelona transaction is a meals for
33:28myself. But I actually want to edit it
33:31to, let's say,
33:33is a Let's say team event.
33:37And I want to add Yuval and
33:44I will take this transaction. And this
33:46is multiple changes in one message. And
33:49we could we can see this happening live
33:51here on the right. So, both of these
33:53fields are going to get updated, expense
33:56type and participants.
33:59There we go.
34:00And we can take one last look here of
34:03Okay, cool. So, the remaining last field
34:05that I have required is fruits. And so,
34:08I teased a little bit earlier of our
34:09shortcut, and we also mentioned this
34:11here. So, rather than typing in, "Show
34:13me what options I have for fruits." or
34:15"I want to do this." I can actually
34:16backslash
34:18and just search up the field. And I can
34:20either make that change for all receipts
34:22or individual one, but let's just say
34:23all. I don't want to change it to guava.
34:26Same thing here. We're going to see the
34:28chat make an update to both transactions
34:31live. And that's going to satisfy the
34:33receipt missing required field
34:34requirement.
34:40Awesome. And then I can just
34:42double-check that everything is filled
34:44in.
34:45And all I need to do now is just submit.
34:48And the last thing that I need to do now
34:50is the agents are going to be validating
34:53every transaction one by one just to
34:55make sure that one, there's no more
34:57missing information that is needed, and
34:59then two, just validating that this
35:00receipt is actually ready to go and to
35:03get submitted.
35:04And once it's submitted, it is up to the
35:07admins to then go in and review.
35:10And I actually did a sample of what
35:12we're calling a multi-message
35:14conversation, but we've actually seen
35:16our users, funny enough, presenting all
35:19of this information up front in one
35:21single message. So, you also have an
35:23interaction of basically two messages.
35:26And there we go. That's a sample view of
35:29how Expensify works. Happy to answer any
35:31questions in the
35:33Q&A.
35:35And I hand it off to Shruti.
35:44Hey everyone. Hi. My name is Shruti.
35:47And on the same lines of what Amanda
35:49just presented, talking about the user
35:52experience. Josh, next slide, please.
35:55I am incredibly proud of what we've
35:58launched when we talk about receipts and
36:00specially a dedicated space for receipts
36:03to sit. And with that being said, I
36:05directly want to jump into the demo
36:07because there's so much to talk about
36:09when we talk about receipt inbox.
36:15So, receipt inbox is basically in a
36:19line, a dedicated space for you to see
36:21your receipts. And it not only just
36:24stores your receipts, but it actually
36:26understands the receipt in terms of your
36:28incoming transactions. Now, in an ideal
36:31world, we have multiple flavors of
36:32transaction where you have an initial
36:35auth, posted auth, you give a tip, the
36:38transaction gets
36:39uh you know, updated to the current
36:41amount, and this is exactly where
36:43Receipt Inbox comes into play because we
36:45do understand all types of transactions,
36:48and we understand the receipts and the
36:50data that comes in with the receipt. So,
36:52what we've introduced when we say when
36:54we talk about an inbox for receipts is
36:57um unattached and recently attached
36:59folders to your receipt inbox.
37:02Unattached basically acts as a perfect
37:05space for the frequent travelers that
37:07some of you are, where you have a
37:09receipt, grab and go,
37:12put it in the receipt inbox, come back
37:14later, and create a new reimbursement.
37:16And that's exactly what I'm going to do
37:17here. I click on the receipt, which is
37:20already sitting in my unattached inbox,
37:23and I just say new reimbursement, and
37:27wait for the magic to happen. It creates
37:28a transaction, there's a receipt
37:30attached, submit. Now, take it with a
37:33grain of salt. I'm using my demo
37:35account, so obviously it's going to have
37:36some flags, but in an ideal situation
37:38where everything is configured
37:39correctly, you should be able to submit
37:41it, and you should be able to get your
37:43money in your bank account.
37:45Uh what happens when you want to like
37:50send a few receipts, and you want like a
37:53couple of transactions to like match?
37:55So, let's say you have the Amex connect
37:57card that we have, and you have a posted
38:00transaction that gets submitted into
38:02your uh expenses, and then you get a
38:04receipt, right? Like it's all not always
38:06in like a sequential manner. So, Receipt
38:09Inbox is actually addressed to cater
38:11that edge case as well, where we take
38:13care of your posted or an initial auth
38:17transaction, and we automatically match
38:20your incoming receipts so that you don't
38:22have to do the mix and match of receipts
38:25to the transaction. So, I'm just going
38:27to quickly show you like just adding a
38:29few transactions here. So, you go to new
38:31transaction flow, you add in your
38:33receipts. I have a Chipotle receipt here
38:36and a Starbucks one, and I'm just going
38:38to upload it.
38:39It gives me a cool little option of like
38:41create two transaction. I click on it.
38:44Uh
38:46till it's, you know, uploading the
38:48receipts. I also want to like quickly
38:49call out and say that what we are doing
38:51with Receipt Inbox V2, which is
38:53basically coming in May, is we are
38:56allowing users to basically uh upload
39:00and go on the fly. So,
39:02same thing. You can just like click
39:04here.
39:05It's a Starbucks receipt. I want to
39:06attach it to a transaction. I already
39:08have it posted. Boom, attach.
39:12As simple as that.
39:14Um with Receipt Inbox V2, we want to
39:16give the end users the ability to like
39:19upload and walk away. So, you should be
39:20able to like close your mobile app,
39:22close your web tab, and like come back,
39:25and we will handle your uploads. You can
39:27upload as many receipts as you want. We
39:30do allow concurrent uploads, so watch
39:31this space for more. And with that being
39:34said, I will pass it back to Josh.
39:44Thanks, team. And I will tap in Thomas
39:45and Nadav to talk about some of our
39:47global compliance updates.
39:51Hey.
39:52Yeah, sounds great. Um thanks so much,
39:54everybody. Yeah, I'm I
39:56um kind of manage a lot of our
39:58international
39:59uh products and features across per diem
40:02and mileage and receipts and things like
40:04that. So, I'll jump into that next.
40:08Cool. Yeah, so, you know, I think um
40:10Navan from day one has always been a
40:12global company. I think especially
40:14especially given the travel side of the
40:15house, you know, we've always had to
40:16operate super globally and so we want to
40:18make sure that the expense product kind
40:20of reflects that as well. And you know,
40:22there's a lot of different requirements
40:24and regulations and um things that we
40:26have to comply with to allow our
40:27customers to use us across the globe and
40:29um
40:30I'll I'll start here, I think.
40:32Um expense advances is something that
40:35that we built to support a lot of
40:36customers across, you know, really
40:38across the globe. Um you know, for
40:39example, in Poland, this is actually a
40:42um
40:43you know, a a regulatory requirement to
40:45allow for this. So, um this is live now.
40:47So, uh this feature essentially allows
40:51um users to request funds up front um
40:54before they actually go on their trip so
40:56that, you know, they're not having to
40:57come come out of pocket for companies
40:59that don't want to use uh corporate
41:01cards in those regions. So, um this is
41:03something that that the companies can
41:04set up now in their policy.
41:07And then um so, I'm breezing through
41:09these a little bit, but I'll I'll I'll
41:10jump through mileage offset as well.
41:12This has been a big ask um across the
41:14globe, too, where um
41:16you know, a lot of different uh tax laws
41:19and just
41:20regulations require um
41:22you know, commute
41:25uh distance to not be counted in in
41:27mileage, basically. So, we've built this
41:29feature that that that basically allows
41:32um the user to deduct uh their commute
41:36from the actual mileage claim um which
41:38which allows you to be more uh compliant
41:41in in different regions.
41:44And then I'll jump into per diems next.
41:46Um
41:47you know, each country, especially in
41:48Europe, has all sorts of different
41:50requirements around around per diem and
41:52we um
41:53we
41:54launched Austrian per diems recently and
41:56um Polish per diems. So,
41:59in Poland, there's a lot of regulation
42:00around um bringing in their central bank
42:03exchange rates as well as different uh
42:06rolling clock rules that you have to
42:08apply when submitting. Um so, we just
42:10launched this recently as well so that
42:13um you know, anyone claiming per diem in
42:15Poland is is is fully compliant over
42:17there.
42:20And then I'll I'll I'll go through
42:21flexible reimbursements as well before
42:23passing it off to to Nadav. Um
42:25but you know, now that we've kind of
42:28built this product out um
42:31admins can reimburse employees directly
42:34uh
42:34across EUR and GBP currencies from those
42:36different bank accounts. Um so that
42:38that's been a big unlock for for a lot
42:40of our European clients.
42:43And I'll pass it off to Nadav.
42:46Thank you, Thomas. I'm Nadav from uh
42:49Navan's commerce invoicing team.
42:52Um and as you may have noticed, we are
42:54currently in a global shift where a tax
42:56authorities are moving from checking
42:58paper to controlling data.
43:00By 2027, most EU countries will mandate
43:03structured invoicing.
43:05This means that if your invoice in E in
43:08Europe is not government mandated
43:10digital file,
43:11it's legally void.
43:13And Navan, we just we don't just track
43:15these mandates. We're building the
43:17products to help you ensure your travel
43:19program remains remains audit ready.
43:22While most travel management companies
43:24use a model where they invoice you
43:25directly for travel spend,
43:27uh it makes the TMC the seller in the
43:30eyes of the tax office. It breaks the
43:33legal link between you and the actual
43:34supplier, which is the hotel or the
43:36airline,
43:37which makes it impossible for you to
43:39reclaim VAT
43:40in Europe.
43:41Navan is different. We ensure the
43:43invoicing remains directly between you
43:45and the supplier,
43:47which is the only way to protect your
43:49full right for that refund.
43:52Our three-layer strategic approach for
43:54invoicing is that we always try to
43:57invoice on behalf of the supplier.
43:59So, for major partners like Lufthansa
44:01Group and Deutsche Bahn, we issue legal
44:04tax invoices directly in their name.
44:06This means that you are able to get your
44:08invoice directly in Navan within the
44:10product without any complications.
44:13We also have technical readiness to
44:14issue these compliant invoices anywhere
44:17in Europe as long as we get the
44:19commercial
44:20approval from the suppliers themselves.
44:24When we don't have that approval from
44:25the supplier,
44:26we do automated retrieval, which means
44:29we try to get the invoices directly from
44:32the systems in Europe, so you don't have
44:34to chase them.
44:35And when that is not possible, we will
44:37generate a receipt with an XML. This
44:40will be the fallback for any transaction
44:42in Navan in Europe.
44:44So, this ensures that regardless of the
44:46supplier, you always have a digital
44:48audit file required by the new EU
44:51mandates.
44:52As the mandates go into place, we are
44:54tracking them very closely and we're
44:55making sure that Navan and you are ready
44:58well ahead of the time the mandate goes
45:00into practice.
45:02That was a little bit about invoicing,
45:04and now we're handing back to Josh.
45:09Great. Thanks, Inder and team. Uh so, if
45:12everybody wants to join me again, uh
45:13we've got about 14 minutes uh for some
45:15Q&A. Uh and thank you to everybody who
45:18submitted questions throughout, uh and
45:20to our speakers who've answered quite a
45:21number of the questions live, and happy
45:23to address a few more of them here.
45:25Uh so, one question I saw come in, uh
45:28Thomas, I think this is for you, uh is
45:30what's the difference between
45:31rules-based coding and AI coding?
45:35Oh, yeah. Um it's a good question. So, I
45:37mean, you know,
45:39on in in I I I kind of spoke to this a
45:41little bit during the beginning of what
45:42I was talking about the the coding
45:43agent, which is, you know, a lot of
45:45pre- the pre-AI world allows you to say,
45:48"Look, you know, based on MCC code X,
45:50code to expense type Y or merchant X
45:53expense type Y." Um and I think there's
45:55still for sure a place for that. You
45:57know, there's certain just accounting
45:58rules that you want to basically just be
46:01perfect and like never fail and always
46:04be the exact same thing across the
46:05board, but especially with merchant
46:07data, there's a lot more nuance
46:08involved. I mean, a lot of people been
46:09talking about Amazon, for example, you
46:11know, you can't really create a merchant
46:12rule without Amazon cuz you can buy
46:14anything on Amazon. Um I mean, even Home
46:16Depot, maybe you stop by Home Depot and
46:17you get a snack instead of buying tools.
46:20You know, there's a lot of nuance there
46:22and I think um where AI can really help
46:26is it it it can reason like a human
46:28being. Um you know, and and it can look
46:31across it can take the time to kind of
46:33look across all of the transaction data
46:34and the receipt data to make a decision.
46:37Um so you don't really have to
46:39set these super rigid rules. Um that's
46:41that's kind of the goal. Again, I I I I
46:43do think there is a
46:44world where both exist,
46:46uh but but I think AI can generally make
46:49much smarter decisions.
46:51Great. Uh another one came in. Pauline,
46:54I believe this one's more for you, but
46:56how can we audit the reasoning for why
46:58the agent suggested an action related to
47:01uh some of the admin AI work?
47:04Yeah, so a couple things. Um within the
47:07suggested action,
47:09um we will show
47:11uh a list of kind of the rationale and
47:13the thinking that went behind a
47:15suggestion. So in that way, you kind of
47:17understand why an the agent is
47:20suggesting the action that it's
47:22suggesting. Um the second part of that
47:24is being able to kind of correct and
47:28instruct the agent to um apply certain
47:31exceptions or um change the logic for
47:34certain merchants, and that's also
47:37something that you can do within that
47:38flow.
47:39Um so, yeah.
47:43All right, great. Uh just had another
47:45one come in. Uh Thomas, probably for for
47:48you, but it goes to whoever wants to
47:49take. Um are you putting in solutions to
47:51help medical device companies track
47:52sunshine reporting requirements and NPI
47:55numbers of doctors?
47:58Oh yeah, that that's an interesting
47:59question. Uh
48:00It's a great one cuz it's it's it is top
48:02of mind for us.
48:04You know, I don't have
48:06a strong timeline yet, but I think we're
48:09we we're hoping this year to definitely
48:13have the ability to comply with and
48:14support Sunshine Act
48:16companies so that you can yeah, you can
48:17pull in NPI numbers and things like that
48:19for for pharma companies.
48:23All right, great.
48:24One probably for Amanda. If I have
48:27multiple expenses I want to create in
48:29the expense chat,
48:31do I need to upload multiple images of
48:33individual receipts?
48:35So, great that you asked that question,
48:37Josh, because Expense Chat actually, on
48:39top of being able to support different
48:41expense types in one conversation, also
48:43allows you to send one photo in of
48:45multiple receipts, and our agents will
48:48parse and split into multiple expenses.
48:51So, for example, if I have five receipts
48:53in one image, I have five transactions
48:55that could get created, all with the
48:57respective snapshot of the receipt and
49:00that data captured at the transaction
49:02level. So,
49:03yeah.
49:05All right, great. I know we got a few
49:07slacks about or sorry, not slacks,
49:09slacks on the brain. A few messages on
49:11here about the capabilities of approval
49:14in Slack going to other systems like
49:18Microsoft Teams. So, Pauline, if you
49:20want to speak to that.
49:21Yes.
49:22So, we're getting huge demand for
49:24Microsoft Teams and it's on our team's
49:26road map.
49:27And so, after we roll out Slack and
49:32you know, address a lot of the most
49:33common workflows for managers,
49:35approvers, and users, we're planning to
49:38extend that capability on the Teams.
49:42All right, great.
49:43One other one here. Is there an option
49:45to consider a user on a trip from
49:48entering mileage and their calendar
49:50integration? To my knowledge, it's
49:52considered a trip in a flight, hotel, or
49:55rental is booked. So, numerous expenses
49:57are considered not on trip when they did
50:00travel.
50:01Yeah, I'll take that one.
50:03Uh it's one of my favorite features. The
50:04reason I love this feature so much is
50:06because of its name. We called it but
50:08I'm on a trip. Uh so, users actually
50:11have the ability
50:13uh to say if they're not on a trip to
50:15say yes, I am actually on a trip and you
50:17know, you can set it up in policy where
50:19it goes over to the manager approval to
50:21say yes, you know, I approve this user
50:22is actually on a trip even though they
50:24don't have a hotel or a flight booked.
50:26They took their car, you know, they're
50:27expensing.
50:29Um and then you can consider all of
50:30those expenses as part of a specific
50:32trip.
50:35Pretty great. Uh one more back to I
50:38think back to you, Pauline, on Slack. I-
50:39is the Slack integration mainly used for
50:41communicating to users about info needed
50:43or flagged transactions?
50:46Um all of the above. So, basically, what
50:50happens is we will for managers and
50:52approvers, we send them a notification
50:55for every expense that's flagged that
50:58has all the receipt um participants, all
51:01that information provided by the user
51:02and is ready for that stamp of approval.
51:05Um and so, within that transaction, the
51:09approver can either approve, reject, or
51:12request more information. So, if they
51:15wanted to request more information, they
51:16can do that on Slack. They can just
51:17simply reply to that transaction message
51:20um and that will log that response and
51:23then also reflect it on on Navan.
51:27All right, great. Uh and one from the
51:30receipt inbox side, Shruti. Um
51:33how are you addressing data privacy when
51:35it comes to adding receipt photos or
51:37photos from someone's library?
51:40Oh, yeah, for sure. I think privacy is
51:42definitely, you know, not an
51:44afterthought for us. We definitely take
51:46that into when we you know build up the
51:49architecture. So you know we make sure
51:51like you know we are going by the
51:53compliance taking users consent user has
51:55verified that personal email before they
51:57send us all the data and that's how we
52:00use AI to like match the receipt or the
52:03photos that they are sending in in a
52:04very
52:06simpler safe way.
52:09Got you. Thanks.
52:11And then one for I think this is for you
52:14Nav Nav out there but so our current
52:16agency sends us one consolidated monthly
52:19invoice for all of our travel spend.
52:22So why does Nav out provide individual
52:24supplier invoices instead?
52:26Yeah, it's one of those classic
52:28trade-offs you have between the build
52:31back models and between the Nav out
52:33agent model. So when an agency sends you
52:36one big invoice you they legally become
52:38the seller and you're not able to
52:40reclaim VAT for that invoice. And Nav
52:43out we provide the original supplier
52:44invoice when we can
52:46so you can always have the invoice for
52:48VAT reclamation. That being said there
52:50is definitely things to that can be used
52:52for the consolidated receipt definitely
52:55in terms of reconciliation which is
52:56something that we're looking also to add
52:58to our product within the next few
52:59months.
53:02Got you. That's great.
53:04One more I saw come through actually we
53:06have time for a few more.
53:08Once the expense is approved by the
53:10manager and maybe later it's realized
53:12that is wrongly approved can the manager
53:15recall the expense or reject it again so
53:18kind of going back at it as a as a
53:19postmortem.
53:21Yeah, I mean
53:22managers do have the ability to go back
53:24and do that. I mean I
53:26if I remember correctly there are some
53:27rules around once a reimbursement has
53:29already fully occurred
53:31that you know we we there some locking
53:34that happens where a manager can't go
53:35back and kind of like re
53:38re claw back the reimbursement but
53:41usually you know if they're able to do
53:43it on on a
53:45pretty short timeline, you know, they
53:47can they can action kind of reject the
53:49transaction after the fact.
53:53Got you. Great.
53:54All right, let's see what other ones are
53:55flying in here.
53:58I think this one's for you Pauline. Can
54:00the agent use our policy documents to
54:03make decisions?
54:06Yes, and I'm assuming by policy document
54:09you're referring to the policy that you
54:11have set up within Navan.
54:14In which case yes, that is one of the
54:15inputs that the agent will be looking
54:17at. A few other inputs that we consider
54:20is you know the users the employees
54:22spend history, like how often are they
54:25going over the spend limit, how
54:27compliant are they, all of that factor
54:29into this decision. We also take a look
54:31at
54:32you know the admins specific like
54:35threshold and
54:37and and activity. So as an admin, are
54:39you more likely to approve things that
54:41are just 5% over threshold, more likely
54:44to reject if it's over 20%? Each each of
54:47those kind of
54:48buckets will play into the final
54:50suggestion that we that we make.
54:55Got you.
54:56Awesome.
54:57I think one question from from David
54:59down here that that that I thought was
55:00was interesting and I I could take an
55:01initial shot at it and and and Pauline
55:03you can follow up.
55:05David said what's the difference between
55:06my company's T&E policy and what you
55:08needed for the Navan T&E policy?
55:11You know, I think
55:12the thinking in here is there's a lot of
55:14rules that you can code into Navan
55:16directly for sure that that try to
55:18reflect your policy, but what our agents
55:20trying to do is actually look at your
55:22policy documentation and take into
55:24account more nuanced rules or policies
55:27or things that you can't just directly
55:29code into software. So we'll kind of
55:31look at the while the agent take into
55:33account the document itself when making
55:36suggestions.
55:40Nice. Any others that you guys saw that
55:42you wanted to address off the bat?
55:49Um the this one from Bonnie on the Slack
55:53integration. I think
55:54Bonnie had something that that yeah that
55:56that we're that we're working on right
55:57now um and that that we're hoping to
55:59ship very soon.
56:00But it's not available today at least
56:02for
56:04what we're doing.
56:04>> not yet live. Um it's in beta, Bonnie.
56:06So if you want to
56:09uh have your org kind of enrolled, feel
56:11free to reach out to your AM and we're
56:13we'll be happy to to add you guys to the
56:15beta.
56:16Mhm. Cool. All right, I I think we've
56:18got time for maybe one more here. Uh
56:21Aaron said if if an expense is itemized
56:23for personal expenses, is there an
56:25option in the works to send to the
56:27manager for approval rather than
56:29requiring the admin to approve?
56:33Yeah, that that's an interesting
56:34question. I guess um you know, the the
56:36approval
56:38um
56:39flows are kind of dependent on what on
56:40on what you set in policy. So if you
56:42know, if um if a transaction's flagged
56:45and the manager set as the approver, you
56:46know, it'll go to them. And if if it's
56:48for an admin, it'll go to the admin. So
56:49it it it should really depend on who the
56:51approver was, you know, at at the time
56:53that the transaction occurred.
56:57Great. Uh so thanks for all the all the
56:59questions. I think last thing just for
57:00you all just to to wrap us up here. So I
57:03guess how are you thinking about like
57:04everything we covered today? How is it
57:06really enhanced by Navan's travel
57:08infrastructure uh and data set?
57:11Yeah,
57:12I think that's the magic of you know,
57:15what we have because
57:17at the end of the day, if you think
57:18about expensing, most of the expensing
57:20that people do, 90% of the expense that
57:22people do, they do while they travel.
57:24Uh so the travel really brings a lot of
57:27context into the expense itself.
57:30Um at the end of the day, when you're
57:31submitting an expense, the most
57:33important thing that admins are trying
57:35to get answered is why did you submit
57:38this expense?
57:40Uh, and we're asking that why from a lot
57:42of different reasons, you know, what
57:43client does it belong to, how do I bill
57:45it to, what expense type is it? Uh, can
57:47you give me a receipt? And it's all
57:49about that story. And travel really adds
57:52a lot of context cuz it already knows,
57:54you know, why you're going to where
57:56you're going and why you're flying and
57:57the fact that you're on a trip. Um, and
57:59it really rounds up the whole expense
58:01story.
58:04Great. So, with that, I think we'll
58:06we'll wrap. So, really appreciate
58:08everybody joining today. Loved all the
58:10questions and appreciate our our team
58:12for showing up. Uh, if you're a
58:14customer, a few things coming up for
58:15you. So, next month we have an ERP
58:17specific webinar we're going to host.
58:19So, we'll send out some invites to that.
58:21Um, we're also have our monthly expense
58:24admin office hours next month as well.
58:26Uh, where we'll kind of dive into some
58:28of the recent releases, things upcoming,
58:30and answer some of your tactical
58:31questions as well. Uh, there's going to
58:34be a survey that I'll show right as I
58:36end this webinar, but again, appreciate
58:38everybody, uh, and have a great rest of
58:41your day.
58:43Thanks, Dean.
58:43>> Awesome.
58:44Thanks, y'all.

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