Understanding the spend insights page

Overview

The Spend Insights listing table within the Spendflo’s Intake to Procure platform provides a detailed breakdown of spending by vendor, application, and contracts. It includes key metrics such as total spend, monthly/annualized costs, and contract terms.

This table enables teams to monitor spending trends, identify cost-saving opportunities, and ensure that expenditures align with business objectives. By offering visibility into actual spend data, organizations can optimize their procurement strategies and avoid budget overruns.

Spend Summary

The Spend Summary graph offers a month-by-month visual breakdown of expenses across the year, where it 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.

Spend listing table

The Spend Listing table provides a detailed view of vendor-specific spending data. For each vendor, it includes information like the owner's name, spend amounts (For each vendor, the monthly spend are shown for the last 3 months only), and TTM (Trailing Twelve Months) spend. Users can also access actions for each vendor, such as reporting concerns, to ensure accurate tracking and accountability. 

The platform also provides a Report Concern Action CTA if in case an issue is spotted with the spend data.

Users can directly raise the concern to the owner and provide a description of the issue and submit.

To learn more about finance integrations, click here.