September product round-up: SaaS procurement excellence, propelled by AI

Newly launched:

Users and Teams: SaaS management insights, up close

SaaS management insights are now enriched to a level further with user and team-level SaaS usage data. This data is derived from HRMS integrations (currently exclusive to BambooHR) making budget and licence allocation easier.

You can identify tools with low usage, know which team the employee belongs to, whether they are still with the company, and reallocate ex-employee licenses to their replacements.

What you get:

• Get more visibility into usage patterns, and spend smart
• Say goodbye to redundant subscriptions and cost duplication
• Streamline, and track procurement effortlessly
• Stay in the know about team budgets vs. team spending, and take faster cost optimization measures

Launching SmartScan—Spendflo’s AI-powered future: Contract management just got 10x faster. 

Powered by Spendflo’s proprietary AI, SmartScan allows for contracts to be scanned and uploaded to the Spendflo platform automatically, shaving off more than 30 hours of effort for you. So here’s how life is about to change for you:

• Save more time and resources, every single contract
• Get used to a much more accurate and faster contract management process

Major upgrades:

One finance tool, multiple integrations: You can now integrate multiple instances of their finance tools with Spendflo. This is useful if you have subsidiaries that use a different instance of the same finance tool. Now you can view all your subsidiary spending under one roof. 

‍AI-powered product mapping: When you import your transactions to Spendflo, the product names are automatically mapped through Spendflo’s proprietary AI. This means you can start optimizing your SaaS contracts from Day 1, without all the dry data entry work.

Real-time data for fail-safe SaaS optimization: We’ve launched extensive buying reports to help you make better buying and budgeting decisions:

• Savings Analysis Reports: This helps track the savings delivered by Spendflo and also drill down metrics such as savings delivered by the type of request including new requests, upgrades, and renewals across time periods.
  
  
• Contracted Spend Analysis Reports: This report helps track overall contracted spend under management and provides insights such as the Spend awarded to Spendflo, Spendflo pipeline, and offline spends. 

• Procurement Analysis: It tracks all procurement-related metrics including requests submitted, requests negotiated, approved, and completed.

Cross-functional reports: The reports module now has cross-functional reports that cover SaaS buying, management, and third-party risk management. You can now view the risk level of vendors alongside how much you’re spending on the contract and how heavily they’re used. Make decisions about retiring or renewing vendors proactively with these insights. 

Custom notifications for renewals: Notifications for contract renewals can now be customized. You can set multiple reminders, apart from the standard 60-day and 120-day reminders. This is particularly useful for making well-planned renewal decisions. 

Jira, Ironclad, and DocuSign integrations: With the Jira and Ironclad integrations, you can now track procurement status and approve requests right from those tools to avoid procurement delays. Contract TATs can be even faster with the DocuSign integration. These integrations help make the SaaS buying process faster than ever.

Slack goes both ways: Our Slackbot now helps you receive and respond to in-app procurement comments via Slack. 

Minor Enhancements:

Transaction currency conversion in CSV: You can now import your SaaS spend data via CSV in multiple currencies. Spendflo can process these transactions and provide the final results in U.S. dollars.

Report missing usage data: Report your concerns directly on the Spendflo platform if you observe any discrepancies in the monthly active usage data. 

Get started

Want to begin your SaaS optimization journey? We’re on the same page! If you’re a current customer and need help trying out our new releases, reach out to us here! If you’re not yet a customer, sign up for free, or talk to us to see if Spendflo is the right fit for you.

Keep an eye out for new launches and updates. Follow us on LinkedIn and Twitter to be the first to know about anything new cooking at Spendflo.

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