The competition in the spend management space continues to intensify.
Brex and Rho today each announced AI-powered/enabled accounts payables offerings.
Their announcements coincidentally came out the same day competitor Ramp announced it had expanded into procurement — further evidence that the companies in the space are clamoring to not only meet customer demand but presumably attempt to outdo each other in terms of what they can offer their customers to help control spend.
Specifically, Brex today revealed Payables, its AI-enabled Accounts Payable (AP) offering, while Rho announced new AI-powered Accounts Payable automation capabilities. Brex’s offering is live today while Rho said its new capabilities will be live later this month.
Via email, Brex co-CEO and co-founder Henrique Dubugras told TechCrunch that launching the new product had been “in the works” since the startup started building Empower, its spend management platform, over a year ago.
He noted that while Brex has used artificial intelligence for years in various capacities such as customer support and underwriting, what is new now is that it partnered with “multiple” machine learning companies such as Scale AI and P …
