Raise your hand if you are a Fractional CFO who is expected to identify and sharpshoot a company’s finance issues. Expectations on you are high. The company is relying on your broad and extensive financial experience to not only track revenue, but also ensure you are investing responsibly, choosing the right vendors, and negotiating great deals. You need to make an impact now, but instead your time is being taken up managing inefficient approval workflows and chasing down budget owners and contracts.

What you need is magical insight of what is happening in real-time. You need the data, analytics, and intelligence at your fingertips.

Managing Vendor Spend 

As a finance professional, we don’t have to convince you that vendor spend is as sexy as revenue generation. In fact, you likely know already that $1,000 saved on vendor spend actually has more bottom-line impact than an additional $1,000 in revenue generated.

There are a variety of AP solutions available, but most of the traditional ones are overly complicated and do a poor job at supporting business flows. They are tactical tools, not strategic. But here's the rub. As a fractional CFO, you are expected to be highly strategic, not just tactical. 

Intelligent Spend Management 

Enter Glean - the AP tool that offers intelligence - your assistant that juices all the information out of your invoices automatically, puts labels and structures(example: tax, credit) around them automatically, and translates that information into insights for you.

With Glean, there is no data entry. It starts by automating and streamlining invoice processing, approval, payment, and synchronization with accounting systems. It then goes on further to provide real-time analytics, trend analysis, anomaly identification, price benchmarking, and more. 

Drive with a Dashboard

Imagine your impact in protecting your client if you had the following example insights handy in real-time:

• What the spend forecast looks like for cash flow purposes
• Upcoming contract renewals
• Conversion of an invoice from monthly to annual
• Tracking of pre-paid entries

As a fractional CFO, one of your biggest jobs is answering questions and sharing information. Glean makes you incredible at both. You are expected to have a solid grasp on the business’s big picture financials so that you may support solid decision-making across the organization. Glean gives you this clarity, at the click of a button. It presents data via dashboards that provide an up-to-date strategic (and tactical) view of spend, making it easy for all stakeholders to understand, from finance teams to budget owners and management. 

Stand Out from the Crowd 

The market for fractional CFOs is growing, and you need to stand out from the crowd. With Glean, arm yourself with the best intelligent spend management tool on the market which will allow you to provide the strategic financial leadership expected of you to your client.

Have we caught your interest yet? Read more about how you can take 3 easy steps to make your accounts payable more strategic.