Overview
The Spend tab provides a detailed analysis of the vendor's spend, including historical data and real-time tracking of financial performance. This helps in assessing vendor efficiency and cost management.
Key Highlights
Spend Summary Graph: This graph highlights the TTM (Trailing Twelve Months) spend directly as the spend summary. The data is primarily obtained from the ERP platform integration with the Spendflo platform, ensuring all the transactions against the selected vendor are showcased. However, the breakdown displayed is available only for a year (a 12 month range). For other date ranges and custom reports for wider date ranges, click on the “Insights” button on the top right side of the graph. This is redirected straight to theSpend Analysis report within the Reports module of the platform, providing a dedicated insight as required.
Transactions Table View: Followed by the Spend Summary section, users can also view the related transactions for the chosen vendor. This data is updated from the ERP integration, showcasing all the transaction details such as billing date, description, amount and source
Key Benefits
Real-Time Spend Tracking: Monitor current and historical spending trends with the vendor.
Financial Insights: Gain insights into vendor-specific costs and budget alignment.
Cost Optimization: Identify areas for cost reduction based on spend data.
Data-Driven Decisions: Use spend analysis to make informed vendor management decisions.
To know more about spend insights, click here.
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