When we implemented Palette’s solution we also introduced a common way of working in all the countries where we operate. Thanks to the real-time reports available in Palette, we can now easily measure and compare the results from different countries.
Juho Häkkinen, Finance System Controller, Lindström Group
Purchasing and cost analysis with an intuitive interface
Palette contains a lot of information regarding the company’s expenses, suppliers and the quantity of processed invoices. With our analytical tool data is presented in an easily accessible format where you simply click your way to the desired real time report. Get information on the average cost for a specific product category, purchase volume by supplier, or the percentage of invoices that are paid on time.
Create prognoses for increased cost efficiency
Many companies produce a periodical overview of their expenses once a year. However, information and conditions change continuously and have to be constantly updated. Palette’s analytical tool creates estimates for future expenses. Set the parameters and adjust them accordingly to show estimates and their effects. An outline of the information is displayed in tables and charts, which makes it easier when you need to streamline or cut costs.
Some key features:
- Complete overview of costs and suppliers
- Ready-made graphs with an intuitive interface
- Quickly identify negative trends
- Integrated with the Palette platform
- Payment statistics
Manage and set up an approval workflow for recurring invoices such as contract services or other regular expenses.
Get the highest percentage of straight-through processing when an invoice arrives. Employees purchase goods and services within a set budget.
Automated matching of invoices, purchase orders, goods receipts, and contract data.
Filter daily spend data to get a 360⁰ view of the organization’s expenses.
Flexible • Modular • Secure • Compliant
An efficient accounts payable solution that reduces costs and frees up time for other tasks within your organization.
Palette gives you full control of the entire accounts payable process. Easily track every single invoice and its current status within the workflow.
Palette’s dashboard provides a complete overview
Palette’s dashboard gives you a real-time overview of all workflows. A comprehensive view shows how many invoices, purchase orders, requisitions etc. are being processed in the system and what their status is. Comply key ratios of, for example, the average processing time per role, the percentage of electronic invoices, or the amounts due for payment in a certain time interval. Obtain insight into potential bottlenecks, possible savings and the impact on liquidity.
Advanced cost analysis with Spend Management
It is easier to work actively with cost efficiency using our tool for purchase analysis. The Spend Management tool gathers information from purchase orders and supplier invoices. With just a few clicks you can access information and cost per supplier, cost per product category and whether the purchase has been made under agreement.
Estimates for future expenses can also be created by changing certain parameters and viewing the effects. Summary information is displayed in tables and charts – making it easier to identify potential savings.