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- Validate and fine-tune spend data with Spend Import
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Validate and fine-tune spend data with Spend Import Print
Modified on: Tue, 20 Feb, 2024 at 7:22 AM
FOR YOUR INFORMATION This is a new feature that went live on January 25, 2024.
Having correct and accurate spend information is critical to effective SaaS procurement for reasons ranging from using it as a springboard for cost savings, effective budgeting, license compliance and cost transparency.
With Sastrify, organizations have the ability to create transparent spend visualization for each individual SaaS tool that is active and paid for, either by integrating the platform with your accounting software or by uploading spend data to the platform on a regular basis.
For all spend data coming into your Sastrify platform, you have the ability to use the 'Spend Import' feature to get a comprehensive view of the incoming data and make any necessary adjustments, either in the form of corrections or updates.
- How to Access "Spend Import"
- The 'Imported' Tab
- The 'Pending' Tab
- Validate Unmatched Vendors
- Correcting Failed Invoices
How to Access "Spend Import"
Spend Import can be accessed from Tool Stack > Spend Import.
The feature contains two tabs, the details of which can be found in the sections below:
The 'Imported' Tab
Under this tab you will find all the historical records of all your successfully uploaded and processed invoices, including their dates, sources, and amounts. This tab will help you understand if your spend import is as expected or if there are potential gaps between what you're seeing in Sastrify and your accounting tools.
If you need to fine-tune, edit, or make correction, you can do so by following these steps:
- Select a specific expense or line item.
- Click the 3-dot icon for that expense and select Edit.
- Make the necessary changes (such as the invoice name, date, amount, and/or currency).
- Confirm your changes by clicking "Save".
From this tab, you can filter the list of spend data by various parameters, such as tool name, date, or source - and view only the data that meets your criteria for a more focused review.
The 'Pending' Tab
Under this tab you will find the spend data that has not yet been processed due to technical processing or internal matching discrepancies caused by the OCR reading. Sastrify is able to catch these conflicts and centralize them in this tab for you to review and make the appropriate corrections.
The conflicts are categorized by the source of the data: accounting software integration, account data import, and invoice upload - each with its own bucket. Under each source bucket, you can see the type of conflicts (such as unmatched vendors or failed invoices) and the amount of the error.
Validate Unmatched Vendors
- The list contains spend data for tools or subscriptions that cannot be matched to any of the tools already listed in Sastrify's extensive database of SaaS vendors.
- This may be because the matching process failed due to the, or because subscriptions discovered by the integration are not listed in our database.
- To validate and fine-tune unmatched vendors, simply match the data on listed on the left to the correct tools in your Sastrify platform (listed on the right) to ensure the display of these tools' spends.
Correcting Failed Invoices
- The list contains the invoices that cannot be processed successfully because certain data points, such as the tool name or amount, cannot be recognized by the OCR reading.
- Resolve the issues by simply filling in the invoice details (according to the displayed soft copy) and assigning them to the correct tool to ensure that the invoices are included in the correct subscriptions.
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