After carefully selecting and evaluating a tool, assigning licenses, and completing the onboarding process, what comes next? The subsequent step is to monitor the tool's performance. This entails assessing its adoption, identifying users, tracking usage, and identifying unassigned licenses. All of this information is conveniently accessible through the Insights dashboard.
Spendflo's Insights Dashboard provides essential metrics to effectively manage your SaaS by controlling spend, monitoring utilization, and reducing wastage. By delving into these metrics, you can gain valuable insights into your organization's total Apps, teams, users, and overall SaaS spend. Let's take a deeper look at each of these key aspects
Products: The total products metric reveals the number of applications actively used within your organization. These applications are identified through SSO, Finance, and Chrome integrations, capturing real-time data. Any app signed up using the corporate email ID will be listed under Total Products; learn more about the Products feature on the help articles here.
Employees: The total users tab displays the number of users within your organization, extracted from the SSO and/or HRMS integration
Teams: Discover the teams within your organization and the number of apps they are utilizing with the total teams metric. This valuable information helps you understand the distribution of tools across teams, aiding in budget planning. Please note that you need to set up the teams section first in order to use it; instructions can be found in this section.
Spend: The total spend metric presents an overview of your organization's SaaS expenditure. Understanding where your money is being allocated in terms of SaaS spending is essential. You have the power to observe and optimize your costs. Spend data is fetched from Finance Integrations, and to connect your finance tool with Spendflo and populate the Spend tab, refer to this guide. Find more details on how to use the spend feature here
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. Monitoring this metric is crucial for maintaining resource utilization checks and balances while continually optimizing it over time.
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.
The "Actions Required" section offers you insight into pending tasks that need your attention. These tasks are generated automatically by the system, utilizing intelligent assessment of your SaaS stack. These actions may include reviewing newly discovered products, examining transactions, and even monitoring underutilized products or assigning owners to products. It serves as a comprehensive hub where you can view all the necessary tasks within the platform, promoting ongoing optimization as a standard practice.
Within the "Spend Anomaly" tab, we draw attention to tools experiencing a noteworthy month-over-month increase in spend. This data is directly sourced from your financial integration and serves as a critical metric for monitoring. It enables you to swiftly identify sudden surges in spend on a specific application and delve into the reasons behind it. In cases of overages, you can promptly take the requisite measures to manage them, mitigating unnecessary long-term additional expenses.
The "Underutilized License" section spotlights applications with unoccupied licenses. It provides information on active users, inactive users, and licenses that remain unassigned. With this transparency, you can take steps to optimize the application. The recommended actions include reaching out to inactive users to assess their need for the app; if unnecessary, you can reclaim the licenses through the Spendflo app. Furthermore, for licenses that have remained unassigned for an extended period, you have the option to negotiate with the vendor for their return or plan for a more efficient renewal in the future.
With Spendflo's Insights page, you are equipped to take charge of your SaaS usage and spending, ensuring efficiency and cost-effectiveness in your organization.
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