What is it?
With Codat's Spend Insights solution, banks and other commercial card issuers can make their supplier onboarding process simpler and more effective, growing revenue per customer and reducing spend churn when moving banking customers to virtual card products.
Spend Insights makes it easy for your customers to share accounts payable data and enables your Sales Analysts, Relationship Managers, and Card Analysts to access this data within minutes with the ability to carry out ongoing monitoring.
Leverage robust data enriched with deeper personalized insights provided by Spend Insights to identify suppliers eligible for your customers' virtual card programs, run targeted supplier outreach campaigns on your customers' behalf, and grow your commercial card volume in B2B payments.
How does it work?
Our comprehensive Codat Portal provides a rich and insightful platform with dynamic data refreshes to your Analysts and Managers, and Codat's digital connection flow makes data sharing effortless for your customers:
- Relationship and onboarding management
Your Analysts and Relationship Managers have the clients they are responsible for and their data at their fingertips in the Codat Portal and can easily onboard new clients.
- Easy and secure authorization journey
Your clients share their accounts payable data with Codat directly from their ERP or accounting software within minutes without providing login credentials so that your organization can gain immediate insights.
- Effortless digital connection
Codat supports direct data sharing from many popular ERPs and accounting software, removing the need for static files shared via email and reducing data processing time from days to minutes.
- Comprehensive financial position and spend analyses
Access an insightful view of your clients' financial position and their spend activity, including individual transactions, payment methods, terms, bill status, and more.
- Ongoing monitoring and data refresh
Your Analysts and Relationship Managers can easily keep records up to date with a single click, providing ongoing service excellence to your clients with this real-time supplier data.
Why use it?
Move more volume to card
Gain better continuous visibility of eligible suppliers and use insights to onboard more suppliers through targeted campaigns.
Reduce spend churn
Easily review your clients' spend to identify new suppliers and monitor for suppliers that revert to check or ACH.
Improve sales conversion
Remove friction from the sales process by presenting personalized offers and spend less time processing applications.
Increase speed-to-spend
Reduce time your organization spends on collecting, cleaning, and processing data, and help clients set up their cards faster.
Data sources
Continuous data streaming
Compel your customers to establish a digital connection with their accounting software and get real-time access to their data at your fingertips for most up-to-date insights.
Intelligent file upload
Let us guide your customers through a straightforward, low-effort process to obtain and upload their supplier and bill information for insightful spend analysis and card offers.
Get started
Ready to use Spend Insights? Reach out to your account manager so that we can enable it for you and get you started. In the process, we will set up your Codat instance to match your business processes, company specifics, and requirements. It's that easy.