Spenmo Product Update

Spenmo Q1 Updates: Your Feedback Shaping Spenmo's Latest Features

Spenmo Q1-2024 Releases: AI-powered OCR for reimbursements, streamlined subscription management, and Netsuite integration to enhance your Spend Management

As we close Q1-2024, we are thrilled to share a suite of enhancements that help finance managers improve their Accounts Payable processes. Driven by our dedication to Customer Love, we've listened closely to your feedback and tailored our solutions to meet and exceed your operational needs. Our latest updates are designed to streamline your processes, freeing up more time for high-value tasks like financial analysis and strategic planning.

1. Improved Reimbursement Product

We're particularly proud of our newest star: AI-powered OCR scanning technology for reimbursement.

  • Automated Data Entry: Employees can now scan their receipts using Spenmo's dashboard or mobile app. Our AI-driven OCR technology automatically captures and inputs the data from receipts, significantly reducing the need for manual entry.
  • Enhanced Accuracy and Speed: This automated approach improves data entry accuracy, leading to fewer errors and discrepancies. This speeds up the reimbursement process and enhances the overall reliability of your financial records.
  • Greater Control with Flexible Disbursement Options: Recognising our customers' diverse needs, we've introduced the ability to disburse reimbursements through external channels outside Spenmo. This flexibility allows you to tailor the disbursement process to fit your company's specific workflow, improving efficiency and control.

2. Streamlined Subscription Management

Our new Subscription Management feature is a game-changer for businesses looking to get a handle on their recurring expenses:

  • One-Stop Subscription Tracking: Manage all your subscriptions from a single dashboard. This centralised view prevents surprises related to automatic renewals and helps in better budget management.
  • In-depth Analysis and Reporting: The feature offers powerful tools to analyse and report on subscription spending, empowering you to make informed decisions that can lead to significant cost savings.

3. Simplified Payment Runs

The enhanced Payment Run feature is designed to give you a comprehensive overview of your financial obligations. With customisable payment cycles and intelligent bill prioritisation, you can schedule, review, and pay your bills seamlessly. Gain a holistic view of upcoming payment cycles to make informed decisions and ensure efficient cash flow management.

  • Centralised Payment Schedules: Gain visibility into all upcoming payment cycles from a single dashboard. This helps in planning and ensuring you have the necessary funds where and when you need them.
  • Intelligent Invoice Prioritisation: This feature automatically prioritises invoices based on their due dates and amounts, helping to manage cash flow more effectively.
  • Real-Time Cash Flow Forecasting: With real-time forecasting, anticipate future cash outflows and plan accordingly to avoid cash shortages and maintain smooth operations.

4. Seamless Netsuite Integration

Quickly import policies, budgets and configurations from NetSuite to Spenmo to maintain consistency between the two systems. Control expenses based on policies to achieve smoother reconciliation. Our latest Netsuite integration simplifies your accounting tasks significantly:

  • Automated Data Transfer: This integration reduces the need for manual data entry, thereby minimising errors and saving time.
  • Consistently Accurate: Ensure your financial records are up-to-date and accurate, simplifying compliance and reporting.

5. Enhanced Bill Payment Experience

We have significantly uplifted the bill payment experience on our platform. This enhancement is designed to simplify interactions, reduce administrative burdens, and provide a more intuitive user interface that finance managers can leverage for improved workflow:

  • Single Interface for All Transactions: Manage all your bill payments through a redesigned interface that simplifies navigation and vendor data management and enhances user experience.
  • Reduced Administrative Burden: Thanks to the efficient new layout of the Bills Page, you can spend less time on routine tasks and more time on strategic financial management.

We are excited for you to experience these innovations and see firsthand how they can transform your AP processes. Stay tuned for more updates as we continue to enhance and expand our services based on your feedback, ensuring that Spenmo remains your preferred partner in financial management.

Your Feedback Matters

At Spenmo, your feedback is the catalyst for our innovation. These updates in Q1 are just the beginning of our commitment to enhancing your experience and efficiency in financial management. We're excited to see how these changes will empower your business and look forward to continuing our improvement journey together.

We're always here to listen and adapt. If you have any questions or suggestions or need assistance with our new features, please don't hesitate to contact us.

Your insights are invaluable to us and crucial in shaping the future of Spenmo's solutions.

Are you keen to experience the benefits of Spenmo's latest updates firsthand? Click here to explore our solutions or schedule a demo tailored to your business needs.


Talk to us


Similar posts

Stay up to date with Spenmo

Sign up to get the latest news, updates, and special offers delivered directly to your mailbox