In this knowledge base article, we will explore Spendflo's Spend and Savings Dashboard, meant to provide visibility on your SaaS procurement and management landscape; this feature provides metrics that are crucial for controlling your SaaS costs, uncovering shadow IT and accessing the savings achieved. By understanding these metrics, you can gain visibility into your overall SaaS operations and make better decisions.
The access to the Spend and Savings dashboard is visible to Spendflo Admis and/or people onboarded as finance team members on Spendflo.
1. Actual Spend
The Actual Spend bar covers your Spend from total contracts uploaded on the platform and the spend coming from the Finance integration. It uncovers the overall spending on your SaaS. Lets take a look at the 2 components on Actual Spend.
Total SaaS spend: This represents the real-time spend incurred by the organization for SaaS subscriptions, including any overages, add-ons, or additional licenses purchased during the contract period. The actual spend data comes via the finance and accounting integration.
Gross Spend Under Management: This metric represents the total value of your SaaS contracts that have been uploaded and are being managed on Spendflo. This metric allows you to easily track your company's overall software contractual spending from Spendflo.
2. Contracted Spend
The Contracted Spend includes all your SaaS spend incurred from the Contracts uploaded on the platform and a breakdown of those spend in different categories. This breakdown gives you detailed visibility on what spends are managed by you without the help of Spendflo-assisted buying, and which contracts have been procured with Spendflo-assisted buying. Let's take a look at these categories in detail:
Fulfilled by Spendflo: This metric reflects the number of SaaS contracts that have been procured or renewed by the Spendflo team since the beginning of the partnership with the customer. It gives you an overview of the contracts Spendflo has successfully managed on your behalf, indicating the team's involvement and impact.
Spendflo Pipeline: The pipeline metric represents all the upcoming contract renewals that will be handled by the Spendflo team during the current contract year. By monitoring the Spendflo pipeline, you can anticipate future contract renewals and ensure proper management and optimization of those contracts.
Managed Offline: This metric includes all the contracts that are handled directly by the customers themselves and do not require assistance from the Spendflo team. It allows you to distinguish contracts managed internally, providing a comprehensive view of the contracts not directly influenced by Spendflo.
Savings Delivered: This metric showcases the savings achieved by the Spendflo team through negotiations in new procurements and contract renewals. It quantifies the cost savings generated by the collaboration with Spendflo, highlighting the value and efficiency of the procurement process.
Minimum Savings Guaranteed: Guaranteed savings refer to the specific savings agreed upon between Spendflo and the customer in the contractual agreement. This metric represents the committed savings, providing a benchmark against which the actual savings delivered can be evaluated.
Return on Investment (RoI): RoI represents the percentage of savings delivered in relation to the contract value, indicating the value generated by Spendflo's services. By assessing the RoI, you can gauge the effectiveness of your investment in Spendflo and evaluate the financial benefits derived from the partnership.
4. Top Contracts
Top contracts show the top 5 spending contracts of your org; you can click on view all to see the full list and get a better understanding of your contracts. You can change the view of the list based on spend or by savings.
5. Spend Distribution
The spend distribution tab displays the expenses accrued by various teams within your organization. Our system evaluates the users who have licenses for specific tools and allocates the expenditures to different teams. This feature offers you a clear view of the resources utilized by each team. You can also view the spend distribution based on the category of tools by changing the view from the drop down
6. Top Products
The "Top Products" tab displays the products that have the highest number of users and spending. You have the option to switch between user and spending views using the dropdown menu. This tab provides insight into your high-spend applications, and their utilization.
The distinction between "Top Contracts Spend" and "Top Products Spend" lies in their sources. "Top Contracts Spend" is derived from the contracts uploaded on the platform, whereas "Top Products Spend" is based on the actual spend recorded through financial integrations.
By understanding the metrics displayed on Spendflo's Dashboard, including Spend Under Management, contracts fulfilled by Spendflo, pipeline contracts, etc you can effectively monitor and optimize your SaaS costs and evaluate the value derived from the partnership with Spendflo.
Was this article helpful?
Thank you for your feedback
Sorry! We couldn't be helpful
Thank you for your feedback
We appreciate your effort and will try to fix the article