August product round-up: Get ready for the next level of SaaS optimization 

We’ve arrived with some incredible product upgrades. What does mean for you? Total transparency of SaaS benchmarking data, granular SaaS reporting that gives James Webb a run for its money, and shorter-than-ever SaaS procurement cycles.

Newly launched:

Launching Spendflo Reports: Real-time data for fail-safe SaaS optimization

Spendflo has launched an extensive, in-depth suite of reports for impactful and actionable SaaS buying and management insights. Here’s brief summary of the types of reports and how each report makes your life better:

1. User Engagement Report

Gauge employee interactions with various SaaS tools in-depth by measuring the employees’ app usage patterns. This can be tracked over specific timeframes of 30, 60, or 90 days, offering a real-time view of SaaS utilization. Spendflo shows this data via SSO integrations as well as Spendflo’s Chrome extension.

2. Access Risk Report

This report shows the potential access risks involved with the SaaS tools that the company uses. Companies, specifically IT admins and CIOs, can view and sort tools by the level of access risk and make informed decisions about the usage, management, and investment of these apps.

3. Shadow IT Report

Spot and track expenses on products lacking assigned ownership or management oversight. This report curbs unnecessary spending, bolsters resource accountability, and boosts IT operational efficiency. It also helps you manage security and compliance risks tied to uncontrolled apps.

4. Spend Analysis Reports 

This feature gives you a complete view of your SaaS spend. It tracks contracted vs. actual spend per SaaS product, allowing detailed analysis by attributes like Month, Owner, Status, and more.

5. Product Insights

The Product Report feature provides you with valuable insights, such as user-specific app access, newly procured apps, and responsible IT administrators. These insights enhance inventory management, accountability through ownership tracking, and informed decision-making based on user data. Additionally, it helps mitigate access risks and supports data-driven strategies.

The enhanced Product Catalog: Transparent, instant benchmark data for smarter procurement decisions

Access our new product catalog, which features over 15,000 products. The catalog includes benchmark information on average prices, savings, time to procure, and more. How does this help with smarter procurement?

1. Informed Decision-Making

Gain detailed insights into products, including descriptions, links to product pages, alternatives, and policy documents. This enables you to make well-informed decisions before requesting a product purchase.

2. Efficiency

Access benchmark data such as average price and time to procure to streamline your purchasing decisions and expedite the procurement process.

3. Comprehensive Information

The expanded catalogue offers comprehensive details, allowing you to evaluate products thoroughly, and increasing the likelihood of choosing the right software for your needs.

Major upgrades

Slack-first procurement goes a step further: Reply to comments on procurement requests/ contracts directly from Spendflo's Slackbot and continue to use Spendflo more effectively in your flow of work.

Users and Teams, and seamless HRMS integrations: Here's how these updates are set to elevate your Spendflo experience:

• Real-Time Insights: Access up-to-the-minute employee, team, and department data directly within Spendflo.
• Departmental Spend Analysis: Gain a clearer perspective on department-level expenditure and application usage.
• Simplified Spend Allocation: Easily distribute application spend across various departments and teams.

Your existing users and teams data will be automatically migrated to align with these new features. Simply integrate with your Bamboo HR account or upload your employee records by csv to get started.

View Annual Prepaid Expenses - Access your annual prepaid expenses in Spendflo. This offers the flexibility to view SaaS expenses in either cash or accrual mode. They can choose account codes for cash expenses or view amortised expenses as needed.

Minor Enhancements

User preferences

Custom view on the  Request & Contract listing page would be retained when you add certain columns to the table view for ease of access.

$0 contracts

The platform now supports contracts with $0 as the contract value.

Better audit logs

Audit Logs will now capture information concerning the specific edits made to contracts/ requests and information about upgrade/ downgrade/ renewal requests raised on contracts.

Cancel culture

Procurements marked for cancellation will not appear in Upcoming Renewals on the Procurement/ Super-admin Dashboard.

Entity information

View your entity details in Spendflo. This enables viewing procurement and spend by geographic regions, such as the US vs. India.