Glean.Ai
Who is
Glean.Ai
Glean.ai provides a sophisticated solution for businesses aiming to enhance their spend management and accounts payable processes. As an AI-based AP solution, it specializes in automating and streamlining the entire accounts payable workflow, from invoice capture to payment execution, while offering deep insights into spending trends and vendor performance. This platform is designed to support controllers and finance teams in achieving greater accuracy, efficiency, and strategic financial decision-making. By integrating accounts payable intelligence into its core functionalities, Glean.ai assists in optimizing operational workflows, improving spend visibility, and ensuring compliance, making it an essential tool for businesses seeking to modernize their financial operations without sacrificing control or insight.
The Problem
2023 has been a difficult year. Finance teams across various industries have diligently applied traditional cost-cutting measures in an effort to curb vendor spend. While these efforts have yielded some immediate financial relief, they fall short of addressing the underlying challenge: fostering a sustainable spend culture where budget accountability is paramount and over-spending is systematically avoided. The crux of the issue lies in empowering budget owners to adopt an owner’s mindset, making judicious decisions that align with long-term financial health rather than temporary fixes.
The Solution
Enter Glean.ai, a spend intelligence platform meticulously designed to address this precise challenge. Glean.ai stands out by not only identifying areas of wasteful expenditure but also by enhancing team collaboration, thereby cultivating smarter spending decisions across the board. The platform is engineered to transform how finance teams interact with spending data, offering actionable insights that lead to significant reductions in vendor costs. By leveraging Glean.ai, finance teams have reported a reduction in vendor expenses by over 10%, alongside streamlining time-consuming tasks related to bill payment and budget management, ultimately boosting the productivity of Accounting and Financial Planning & Analysis (FP&A) teams.
Why it Matters
For CPA professionals and Controllers, the value proposition of Glean.ai is clear. In an environment where fiscal prudence is paramount, achieving a double-digit percentage reduction in vendor costs represents a significant strategic advantage. Moreover, the automation of repetitive billing and budgeting tasks frees up valuable time for finance teams, allowing them to focus on higher-value activities such as strategic planning and analysis. This shift not only enhances the operational efficiency of the finance function but also contributes to a more robust financial foundation for the organization.
How it Works
Glean.ai distinguishes itself from conventional spend management solutions through its comprehensive approach to bill analysis. The platform performs a detailed forensic examination of every invoice, employing artificial intelligence to detect and understand fluctuations in billing amounts, identify unusual spending patterns, flag potential duplicate charges, and execute over 40 distinct tests designed to uncover savings opportunities. This meticulous analysis provides finance teams and vendor managers with the insights needed to take proactive steps towards cost optimization. Glean.ai's unique capability to deliver granular, actionable intelligence on spending makes it an indispensable tool for organizations seeking to enhance their spend management practices and foster a culture of financial accountability and transparency.
Product Overview
Real-time Budget vs. Actual Alerts
Glean.ai enhances spend management practices by offering real-time budget vs. actual alerts, a feature that immediately notifies finance teams and vendor owners upon the receipt of a bill that exceeds budget expectations. This prompt alert system is designed to not only inform but also explain the reasons behind the variance, enabling quick and informed decision-making. By integrating artificial intelligence, Glean.ai sifts through spending data to provide insights into spending trends and anomalies, ensuring that budget owners have the necessary information to act like true stewards of their budgets. This feature is pivotal for maintaining financial discipline and avoiding budget overruns, making it an essential tool for finance professionals seeking to uphold a healthy spend culture within their organizations.
Vendor Management
Effective vendor management is crucial for streamlining spend management and AP automation processes. Glean.ai offers a comprehensive solution that tracks all critical renewal dates, centralizes the storage of vendor documents, and facilitates collaborative budgeting between finance teams and budget owners. This centralized approach to vendor management not only simplifies administrative tasks but also enhances visibility into future spend decisions, aligning them with the organization’s financial strategy. By providing a single platform for managing vendor relationships and budgets, Glean.ai empowers finance teams and budget owners to manage their vendor spend more efficiently, ensuring that expenditures align with organizational goals and budgets.
Benchmarking Data
Leveraging the power of AI, Glean.ai collects and analyzes vast amounts of pricing data, offering unprecedented insights into spending patterns and potential savings opportunities. This benchmarking data feature proactively alerts customers to areas where they may achieve cost reductions, based on comprehensive market analysis and pricing trends. By comparing an organization's spending against a wide dataset, Glean.ai identifies opportunities for negotiation and cost savings, providing a competitive edge in vendor cost management. This capability is invaluable for finance teams looking to optimize their spending and ensure they are getting the best value from their vendor relationships.
Advanced Finance Automation
Glean.ai redefines AP automation by introducing advanced finance automation features that streamline the financial management process. The platform identifies likely accruals and automates prepaid schedules, enhancing the accuracy of financial reporting. Additionally, Glean.ai simplifies the new vendor approval and onboarding process, ensuring that new vendors meet the organization’s compliance and financial standards before integration into the payment system. This level of automation not only reduces the administrative burden on finance teams but also ensures tighter control over the financial processes, making it easier to manage and forecast spending accurately.
Line-item Analysis
Glean.ai's line-item analysis offers a deep dive into the reasons behind month-over-month bill variations, highlighting anomalous spend activity and flagging duplicate bills. This granular insight into spending patterns provides finance teams with a clear understanding of their spend culture, allowing for targeted cost management strategies. By analyzing each line item, Glean.ai uncovers hidden insights into spending, offering actionable intelligence that can lead to significant cost savings. This feature is particularly beneficial for organizations looking to gain a deeper understanding of their spending habits and implement data-driven strategies to optimize their financial performance.
Perfect For
Differentiators
AI-Powered Line-Item Extraction
Glean.ai stands out as the sole accounts payable (AP) tool in the market that harnesses artificial intelligence to meticulously extract and analyze line items from invoices. This unparalleled capability ensures detailed insights into spending and fosters a deeper understanding of financial flows, making it a pivotal tool for spend management and AP automation.
Automated Prepaid/Amortization Schedules
With Glean.ai, finance teams benefit from automated scheduling and alerts for prepaid expenses and amortization, alongside accurate accruals monitoring month-over-month (MoM). This advanced finance automation feature streamlines accounting processes, enhancing accuracy and efficiency in financial planning and analysis.
Empowerment through Unlimited Users
Glean.ai democratizes spend authority by allowing unlimited user access within an organization, empowering employees to take charge of their spending decisions. This approach promotes a culture of accountability and transparency in spend management, aligning with the core needs of AP automation and spend intelligence.
Automatic Variance Analysis
Glean.ai offers automatic variance analyses, providing real-time budget vs. actual alerts and in-depth explanations for any discrepancies the moment a bill is received. This feature ensures that finance teams and vendor owners are always informed, facilitating immediate action on over-budget items and reinforcing the platform's role in driving smarter spend decisions through artificial intelligence and insights into spending.
See Glean.ai in Action
FAQs
Why Audit Friendly likes it
Implementation
Glean.ai offers a streamlined, turn-key setup process designed to integrate seamlessly with your existing financial operations. During the initial implementation call, our team focuses on key components such as General Ledger (GL) synchronization, establishing approval workflows, setting up payments/Know Your Customer (KYC) compliance, and optimizing invoice ingestion procedures. Subsequent steps involve meticulous verification to ensure vendor coding accuracy, laying the foundation for precise financial tracking and reporting. This thorough yet efficient approach allows for a swift transition, enabling your team to be fully operational within just a few days. Moreover, Glean.ai's self-paced onboarding process empowers users to adapt the system to their specific needs at their own speed, ensuring a customized and comfortable integration experience.
User Experience
Glean.ai is renowned for its intuitive user interface, which simplifies data capture and management, making spend management and AP automation both efficient and user-friendly. The platform is highly customizable, allowing users to adapt its powerful finance automation and collaboration tools to meet their unique operational needs seamlessly. Enhanced by comprehensive training resources, users can quickly become proficient in leveraging all that Glean.ai has to offer. Additionally, the availability of responsive customer support further elevates the user experience, ensuring that any queries or issues are addressed promptly. This combination of ease of use, adaptability, and robust support structures makes Glean.ai an ideal solution for finance teams looking for a streamlined approach to managing their spend intelligence.
Scalability
Glean.ai is designed to seamlessly scale alongside your business, adeptly managing growing data volumes with unwavering processing speed and efficiency. The platform’s advanced infrastructure supports parallel processing, ensuring that an increase in transactional volume doesn’t compromise performance. Its capability for seamless integration with existing financial systems means Glean.ai can adapt to your evolving business needs, facilitating effortless scalability. This dynamic resource allocation allows organizations to not only streamline their operations but also significantly reduce the manual resource requirements typically associated with accounts payable processes. As a result, businesses can achieve optimized efficiency and smoother workflows, even as they expand and their financial operations become more complex.
Customer Support
Glean.ai prides itself on delivering responsive and comprehensive customer support across multiple channels, such as email and live chat, ensuring that assistance is readily available whenever needed. Upon starting with Glean.ai, customers are assigned a dedicated Customer Success Manager (CSM) who plays a crucial role not only during the initial setup but also throughout the operational journey with the system. This personalized support approach guarantees that users have expert guidance at every step, from troubleshooting to optimizing the platform's capabilities for their specific needs. Additionally, Glean.ai offers an extensive suite of documentation and training resources, allowing users to deepen their understanding of the platform at their own pace. This blend of direct support and self-help options enhances the overall user experience, ensuring that every organization can maximize the benefits of Glean.ai's spend management and AP automation solutions.
Cost-effective
Intuitive
Unlimited Users
