You can’t manage what you can’t measure: Getting a 360-degree view of spend data

Our ongoing series “Did you know” highlights the capabilities and benefits of AppZen Expense Audit, bringing you deeper into what makes it tick and how you can take advantage. In this post, we look at why it’s critical to have a 360-degree on-demand view of your spend data.

Travel and expense managers have a hard time keeping tabs on employee expenses distributed across the organization. This is no surprise, as a majority of their time is spent gathering data across all their Travel & Expense, P-Card, P2P, and ERP systems. As a result, the expense data they gather is stale and not actionable. Even when they are able to aggregate the information, it does not give granular insight into the types and sub-types of spend, such as work-from-home or in-office supplies, employee gifts, meals, mobile phone services, hotel and transportation charges, etc.

What finance managers and auditors need is on-demand access to a consolidated, 360-degree view of their employees. Only then can they truly measure the effectiveness of expense policies and optimize expenses.

AppZen Expense Audit’s Mastermind AI provides exactly that: spend insights and industry benchmarks on top of the most accurate, fully-audited spend data. Managers and auditors can see expense trends and reports so they can focus their efforts on strategizing and improving the finance organization, rather than on the time-consuming task of aggregating data.

With Expense Audit, they can monitor and control company expense performance in real-time. They can easily create new dashboards to gain insights on evolving questions, such as pinpointing high-risk spend by region or currency.

Mastermind AI can provide insights into very complex spend scenarios. For example, finance managers can spot a region that is a high expense risk outlier, dig into that, and determine which employees are driving the majority of the risk. And they can keep digging, all the way to specific transactions and receipts. As a result, finance organizations have more comprehensive information on which to base business decisions.

Wondering what else AppZen Expense Audit can do? Check out AppZen Expense Audit on the web, or reach out!