Spend Insights supports the finance function activities through end-to-end spend visibility and real-time analytics
OpenEnvoy, the Bay Area fintech company that created the first real-time AP automation solution with guaranteed ROI, announces the release of their spend intelligence product. Spend Insights encompasses live dashboards and reporting for automated invoice auditing and spend analysis.
In an unpredictable business environment, many organizations struggle with a lack of spend visibility and are in need of accurate data to improve efficiency and manage forecasting. OpenEnvoy takes spend analysis to the next level with dashboards that offer a holistic view of company spend and the option to view individual categories at a granular level for actionable insights that are provided directly from the customer’s supplier network.
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“As the first preventative AP Automation solution, OpenEnvoy is in a unique position to bring deep analytics in real-time to our customers,” said Matthew Tillman, CEO of OpenEnvoy. “For the first time, customers can view detailed spend insights by GL code, supplier, and department without any manual setup.”
OpenEnvoy Connects All Internal Systems
OpenEnvoy’s AP automation is lightweight, quick to deploy, and the solutions provided are designed to support CFOs, Controllers, and finance teams with:
- Reliable insights – See detailed account-level spend insights on 4 unique dashboards: company spend, supplier scoring, accounting task lists, and disputes.
- Increased efficiency – The ability to forward information in any format to the solution eliminates lengthy onboarding and the dashboards connect to existing BI tools seamlessly.
- Control of data – Export data directly into any major BI product or in-house developed reporting service via the Open API.
- Customizable reporting – Filter by GL code, department, region, time period, job owner or number, user, keyword search, etc. for granular reporting and customize dashboards to display the most valuable information.
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As finance leaders focus on resiliency and creating meaningful growth, OpenEnvoy supports strategic initiatives by offering end-to-end spend visibility. Customers can immediately view the amount of money being spent, past spending, the amount of blocked wasted spend, and supplier scoring to ensure they are receiving quality service.
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