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 tenant 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 "Approval Cycle" dashboard helps track pending expenses, ensuring faster reimbursements by prompting employees and managers to submit and approve expenses promptly.
Detailed Breakdown of Expensya Insights Dashboards
Filters
You can use filters to view specific insights and focus on the details most relevant to your analysis.
- Select Expense Dates to focus on specific timeframes. You can choose from Expense Creation Date, Expense Submission Date, Expense Validation Date, or Expense Archiving Date.
- Use Dimensions to customize your data view. Dimensions in Expensya are designed to group users within a tenant by assigning multiple attributes to differentiate them. For further details on dimensions, refer to this article.
- Filter by Employee to see data specific to individual employees.
- Choose Expense State to view expenses based on their status.
- Filter by Category to break down data by the type of expense.
- Select Payment Instrument to analyze expenses by payment method.
- Filter by Project to view expenses related to specific projects.
- Use Reimbursement State to filter expenses as either Reimbursable or Not Reimbursable.
- Filter by Country to view expenses from particular locations.
General Dashboard
Provides an overview of the tenant’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.
Approval Cycle
Tracks pending expenses and identifies bottlenecks in the approval 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 tenant rules by showing which rules are most frequently triggered and their related categories, allowing for adjustments to align with tenant 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 tenant expenses through various classifications relevant to the tenant, with customizable tabs to switch between different analytical perspectives.
VAT Overview (available in the Expesnya Premium offer)
Tracks and analyzes VAT-related expenses, providing insights into recoverable VAT by category, country, and merchant, while helping optimize VAT recovery and ensure compliance.
Authorization Requests (available in the Expesnya Premium offer)
Displays authorization request data with detailed insights, including totals, averages, trends, and category breakdowns, enabling more informed decision-making and making authorization request management easier.
