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

Newly launched:

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Users and Teams: SaaS management insights, up close

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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

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

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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.

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

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Major upgrades:

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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.

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: Tracks the savings delivered by Spendflo and drills down metrics such as savings delivered by request type including new requests, upgrades, and renewals.
• Contracted Spend Analysis Reports: Tracks overall contracted spend under management and provides insights such as Spend awarded to Spendflo, Spendflo pipeline, and offline spends.

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

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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.

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.

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.

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

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Minor Enhancements:

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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.

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Get started

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Want to begin your SaaS optimization journey? 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.

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