The analytics module on Fyle provides real-time data about your organization's spend, with actionable insights into your employees' spend patterns, visibility into potential risks, and much more. As Finance, you can use the data to maintain financial control and forecast risks.
Fyle's analytics is split into three tabs: Insights, Operations, and Risks.
This tab gives you data on employee spend behavior around categories, departments, business units, and cost centers. It also shows you insights around travel planning, who the top vendors are, and whether your employees booked their trips personally or through the company travel agent.
This tab shows how long it took employees to submit their expenses, managers to approve the reports, Finance teams to verify them, and finally, how long it took to get the report reimbursed post verification. You can use this data to improve your turnaround time.
From this tab, you can gain insights into your organization's biggest policy violations, changes in spend patterns for categories, top spenders, and weekend expenditure. With all the information available, Fyle can help predict and avoid some financial issues and protect your organization against risk.
All the data you see on the analytics page is updated in real-time. You can drill down into the source data by using multiple filters such as spend date, location, department, business unit, project, expense category, and cost center. By default, Fyle shows data and insights for the last two months. However, you can change the base time period. Click on the FILTER + button next to the default date filter. You can go back to the last 180 days.
Organizations use MIS reports to help in analyzing and planning actions that can assist business decisions. Fyle has a few predefined MIS reports which give detailed information of the company's expenditure based on:
- Spend By Departments
- Spend By Projects
- Spend By Vendors
- Spend By Categories
At Fyle, we want to provide an expense management experience like no other. We also know how accurate and real-time data is critical to Finance teams. Our platform is built to utilize all the expense data in real-time to help you make informed financial decisions. Schedule a demo with us to learn more!