Introducing Expensya Insights Dashboards
Expensya Insights Dashboards is a comprehensive toolset designed to transform raw data into clear, interactive visuals. It serves as a powerful report and visualization tool for individuals and as an analytical and decision-making engine for teams, divisions, or entire corporations. This advanced Business Intelligence (BI) module enhances Expensya’s existing products, providing tailored dashboards to meet each client's unique needs.
When to Use Expensya Insights Dashboards?
Choosing between Expensya Insights Dashboards and Microsoft Excel depends on the complexity of your data analysis tasks and the level of interactivity and visualization you need. While Excel is excellent for handling raw data and performing basic analysis, Expensya Insights Dashboards excels in offering dynamic and interactive visualizations, making it ideal for more complex analytical needs. Often, these tools complement each other in a comprehensive data analysis workflow.
Features and Benefits of Expensya Insights Dashboards
- Real-Time Data Analysis
- Interactive and Precise: Offers intuitive interfaces that make data analysis straightforward and precise, ensuring teams spend less time on data crunching and more on strategic decision-making.
- Real-Time Updates: Provides almost real-time data with only a one-day delay, allowing timely decision-making.
- Enhanced Spend Management
- Visibility and Control: Gives CFOs and financial managers clear visibility into global expenses, helping them make informed and precise decisions.
- Policy Compliance: Monitors policy violations systematically, ensuring adherence to company rules.
- Opportunities for Cost Savings
- Negotiating Better Deals: Identifies popular vendors and uncovers opportunities to negotiate better deals or find cost-effective alternatives.
- Fraud Detection: Tracks unusual expenses and rejections to detect potential fraud, allowing companies to update spending policies accordingly.
- Optimized Expense Policies and Faster Reimbursements
- Filtering and Analysis: Filters expenses by various criteria (categories, employees, projects) for optimal visibility and analysis.
- Speeding Up Reimbursements: The "Validation Cycle" dashboard helps track pending expenses, ensuring faster reimbursements by prompting employees and managers to submit and validate expenses promptly.
Detailed Breakdown of Expensya Insights Dashboards
- General Dashboard
Provides an overview of the company’s core financial data and trends, helping in budget planning and avoiding financial surprises by illustrating expenses year-to-year and month-to-month.
- Categories and Merchants
Identifies popular expense categories and top merchants, enabling better price negotiations and strategic redirection of employee spending towards partner merchants.
- Validation Cycle
Tracks pending expenses and identifies bottlenecks in the validation process, accelerating expense approvals by highlighting delays and pending submissions.
- Employee Dashboard
Breaks down expenses by employee, category, and project, helping identify overspending behaviors and enforce corrective actions to encourage responsible spending.
- Rules & Policies
Evaluates the efficiency of company rules by showing which rules are most frequently triggered and their related categories, allowing for adjustments to align with company spending behaviors.
- Rejected Expenses
Analyzes rejected expenses, providing insights into approval dynamics and helping maintain control over expense approvals by identifying trends and inconsistencies.
- Food & Dining (available in the Expesnya Premium offer)
Details meal expenses, categories, and dining trends, helping spot overspending and prevent excess by monitoring employee dining habits.
- Mileage Expenses (available in the Expesnya Premium offer)
Tracks mileage expenses, trips, distances traveled, and total spend, with a radar view for identifying potential fraud related to inflated expense claims.
- Dimensions (available in the Expensya Premium offer)
Offers an overview of company expenses through various classifications relevant to the company, with customizable tabs to switch between different analytical perspectives.
Conclusion
Expensya Insights Dashboards bring clarity, control, and efficiency to spend management. By leveraging these tools, companies can transform their data into actionable insights, optimize their expense policies, and make more informed financial decisions. Welcome to the era of smart spend management with Expensya Insights Dashboards.
