Overview

In the Reports section, you'll find the Actual Spend vs Contracted Spend Report, which offers a dynamic view of your SaaS spends. This report gains its real-time insights through integration with your finance system. To access this comprehensive report, it's essential to connect your finance system to Spendflo.

This report compares the actual amount spent on SaaS subscriptions with the amounts that were initially contracted. The primary aim is to identify discrepancies, overspending, or potential savings in software investments.

Key Components

Actual Spend: 

This represents the real-world costs 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

Contracted Spend: 

This is the amount agreed upon in the initial contract for each SaaS product, often based on a set number of licenses or a specific tier of service.

Benefits:

Cost Control: 

By comparing actual to contracted spend, organizations can quickly identify instances of overspending and take corrective action.

Budget Alignment: 

The report helps ensure that SaaS expenditures align with budgetary constraints and expectations, aiding in future budget planning.

Negotiation Leverage: 

Understanding spending patterns can provide valuable insights for future contract negotiations with SaaS vendors.

Optimization: 

The report can highlight underutilised subscriptions, suggesting opportunities for downgrading or eliminating certain services to save costs.

Steps to get the Actual Spend Report

To get the report, follow the steps below.

1. Open the Reports tab from the Navigation menu

2. Once you've landed on the Reports page, the initial screen that appears will be the Buying Hub Reports. The navigation menu for accessing different reports is located on the left side of the screen. Navigate to the Management section and click on Spend Analysis report from the navigation bar.

3. In the Report, you'll see the graph at the top, which will give you a Product wise bifurcation of your spend for each month. The bottom table will list the details of all your Products, their spend, their current status, access risk, etc. You can scroll horizontally and vertically to view more details.

4. You also have the option to click on the report name within either of the tables to expand and view it in full screen. 

When in expanded mode, you can conveniently export the report by clicking on the download icon and selecting your preferred download format, and your download will be prepared promptly.

Filters

You have the flexibility to customize the graph's time frame from drop down filters, allowing you to switch between monthly, three months, six months, annual and more. For customers with more than a year of history with Spendflo, you can access historical contract details by utilizing the Contract Year filters, which are available in both the table and the graph.