Newsroom/Product update October 11, 2021

Spend Insights

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Spend Insights helps finance leaders and teams resolve the issue of spend visibility by providing detailed account-level dashboard views of organizational spend to improve efficiency, manage forecasting, and prevent wasted spend.

What finance teams can expect with OpenEnvoy’s Spend Insights dashboards:

  • CFOs and finance executives benefit from having a holistic summary view of company spend that can be filtered by GL code, department, region, time period, job owner or number, user, keyword search, etc.
  • Task lists for AP teams to maintain organizational efficiency in processing jobs forward through the workflow.
  • Controllers and accounting team members can view and track disputes.
  • Ability to view the vendor scoring dashboard for ratings to measure vendor performance and ensure quality service.
  • Accounts payable teams can customize dashboards to display the information most valuable for them.

The benefits of Spend Insights dashboards for finance teams:

  • Lightweight and fast to deploy, the solution eliminates lengthy onboarding or need for third-party services.
  • Extra layers of security with tight access controls to protect sensitive information by user and team.
  • Connect seamlessly to your existing BI tools, you have the ability to export data directly to your in-house reporting services.

How Spend Insights dashboards work:

OpenEnvoy’s Spend Insights offer standalone reports bundled into the summary dashboard to provide a holistic view of company spend based on individual categories that can be filtered to a granular level as a chart or table. The information derived from the 4 dashboards: summary, tasks, disputes and vendor scoring can be exported as CSV files and synced into existing BI tools for reporting and data accuracy. 

OpenEnvoy, founded in 2020, is the only detail-level AP automation solution that ensures you never overpay your vendors, preventing billions of dollars in wasted spend. OpenEnvoy is built by a diverse group of people located around the world with offices in Nevada and California. To learn more, please visit https://openenvoy.com to connect with an expert.

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