Used as a derivatizing agent in analytical chemistry, particularly in mass spectrometry for the detection and identification of hydroxyl-containing compounds. It enables selective labeling of alcohols and phenols, enhancing their ionization efficiency and improving detection sensitivity. Commonly applied in metabolomics and biochemical profiling to modify and stabilize labile phosphate esters. Also serves as a reagent in enzyme studies involving phosphatases and esterases due to its hydrolyzable phosphoester bond.