Overview

Understanding the spend on your organization's SaaS tools is crucial as it represents a significant cost component. In Spendflo, there are multiple ways to monitor your SaaS spend, and this guide will explain one of those methods. Specifically, we will explore how to view the month-on-month spend of a specific tool, which can help identify overages or other spending patterns. 

Why is Month over Month and Year over Year Analysis Important?

Month-over-Month (MoM) and Year-over-Year (YoY) changes in spend are important metrics in a SaaS management product for several reasons:

Budget Allocation: Understanding MoM and YoY changes helps organizations allocate budgets more effectively, ensuring that resources are directed towards the most critical SaaS products.

Cost Control: Monitoring these metrics can quickly highlight any unexpected spikes or reductions in spending, allowing for timely interventions.

Contract Negotiation: Knowing your spending trends can give you leverage during contract renewals or negotiations with SaaS vendors.

User Engagement: A decrease in spend on a particular SaaS tool could indicate low user engagement, signaling a need for training or potentially a platform switch.

In summary, MoM and YoY changes in spend are vital for planning, vendor management, and monitoring user engagement. Monitoring these metrics in Spendflo provides you with the insights needed to manage their software portfolios effectively.

To access this level of information, follow these steps:

Access the Spend Page

To begin, click on "Management" and then select "Spend" from the dropdown menu. This will lead you to the Spend page.

Explore Spend by Products

On the Spend page, locate the "Spend by Products" tab located in the bottom section. Here, you will find a comprehensive list of all the products used, along with their corresponding expenditures over the past 12 months. Additionally, you can analyze the Year-on-Year (YoY) or Month-on-Month (MoM) changes in spending patterns for these products.

Select the Desired Product

Choose the specific SaaS tool for which you want to examine the detailed spend by typing its name on the search bar. Click on the product's name to access the dedicated details page.

Review Monthly Spend

On the details page, you will find the spending data organized over the course of the last 12 months. A graph will visually represent the spending pattern during this period. Furthermore, you can access the source of this spend and transaction details in the Transaction table located just below the graph.

Utilize Time Filters (Optional)

For further customization, you have the option to filter the duration displayed on the graph. Simply click on the time filter and set the desired time range to focus on specific periods.

For MoM

• The time range filter needs to be of one proper month. See below

• Once you apply the proper time range you should be able to see the change in MoM for the chosen monthly interval.

For YoY

• The time range filter needs to be of one proper month. See below

• Once you apply the proper time range you should be able to see the change in MoM for the chosen yearly interval

By following these steps, you can effectively track the month-on-month expenditure for a particular SaaS tool, enabling you to make informed decisions regarding your organization's spend and optimize cost management.