Emburse, a global leader in expense management and invoice automation solutions, announces the launch of Emburse Analytics, empowering customers with dashboards that optimise spend, improve compliance and give finance teams deep spend analysis capabilities wrapped in an intuitive user interface.
Emburse Analytics puts actionable data at finance team members’ fingertips, and it enables organisations to easily analyse a wide range of expense parameters. This gives organisations deep insight into spend to better enforce expense policy adherence, minimise wasteful spend, negotiate and enforce preferred vendor pricing, and make more informed decisions for future spend planning.
“As our employees begin to return to business travel, it’s critical that we minimise spend leakage, and closely track outlays. Being able to easily analyse employee spend at a macro level as well as identifying any pockets of policy noncompliance is key to enabling this,” said Heather Shafland, Business Process Manager at CyberPower Systems. “We previously faced a number of challenges in this area, as there was little ability to customise reports for our specific needs, and the data presentation wasn’t intuitive. With Emburse Analytics, it’s easy for my team to drill down into data and identify trends. With reports being created in a visually compelling and easy-to-understand graphical format, it is simple to present this information outside of our team to managers and other decision makers.”
Emburse Analytics enables customers to:
• See their employee expense data in easy to understand dashboards that show spend by different dimensions, such as department, expense type/category, and employee, so they can spot trends and highlight areas of inconsistency.
• Share this data easily with their managers and approvers to help speed up the expense approval process and alert managers to concerning areas.
• Review spend over the previous year and set expected budgets by categories such as department or region. Organisations can look at their employees’ spend by areas including highest-spending individuals or departments, most expensed categories and merchants, as well as tracking spend patterns over different periods of time.
• Make more informed decisions about how to plan for the future, so they can prepare for changes in spend, instead of being surprised by it.
“As we emerge from the pandemic, we know that many organisations’ travel and discretionary spend budgets will be closely watched. Doing this effectively requires finance teams to quickly and easily analyse data, which they can then communicate across the organisation to help optimise spend and make smarter planning decisions,” said Eric Friedrichsen, CEO at Emburse. “We developed Embuse Analytics to put the power of a sophisticated data and analytics solution in our customers’ hands. Leveraging the data and insights from Emburse Analytics will help finance and corporate travel professionals save potentially millions of dollars by cutting non-compliant spend and making smarter budget planning decisions.”
Emburse Analytics is currently available for customers of Emburse Certify Expense, and will be deployed across Emburse’s suite of expense management and AP automation software solutions in the coming months.