Glean AI’s ‘New Vendor Approval’ feature aligns Finance teams and Company Spenders by collecting all critical vendor information at the start, storing it for easy access and using it to check for compliance and errors.

Every vendor has a reason why it is associated with your company. They provide some product or service, at some price and at some frequency. But unless you’ve committed to memory what these details are for every one of your vendors, how would you know if something was off? 

Glean AI solves this with its New Vendor Approval feature that asks all of the relevant questions upfront, then stores the answers for you to access and for every invoice to be automatically checked against.  

 Glean AI provides you with:

•  A unified, cross-functional understanding of both the value (ROI) and financial impact expected from every vendor relationship.
•  An automatic ‘actual versus planned’ analysis for every product or service your company purchases completed by Glean AI using the vendor inputs.  
•  A way to establish proactive accountability that requires every spender in your company to ask their vendors crucial questions on costing and expectations before contracts are signed and invoices are paid. 
•  A finance team that is informed, prepared, and ready for incoming spend, meaning no budget surprises and easier cash flow management.

How It Works

The process is simple.

Anyone within the organization can be a ‘Purchaser’ and request a new vendor. But only once the request is approved does the vendor become active in the Glean AI system.

Once approval is complete, the Purchaser gets an email informing them that they have been delegated as an ‘Owner’ for the vendor. The Owner is then asked to input details about the vendor in Vendor Setup form. 

The Owner will require a proper understanding of the contract/order with the vendor in order to complete the inputs. This feature provides a built-in control that creates proactive spend accountability within your company.  

Glean AI: Your Invisible Gatekeeper

When invoices from the vendor are received, Glean AI analyzes the line items relative to the information provided by the Owner. Overspend, monthly variances, new line items, etc., are red-flagged before the invoice is paid, saving you the time and frustration of chasing refunds on incorrect payments, not to mention the overpayments that are never found. Glean AI becomes your automatic and invisible invoice gatekeeper.

Vendor Details Collected and Used by Glean AI

Some examples of the information collected by Glean AI are:

• Will this be a fixed or variable cost?
• Is the charge a one-time, recurring, or sporadic cost?
• What are the ROI expectations?
• How much do we expect to spend with the vendor?
• How often and how should we treat the expense?
• Who is our primary contact at the vendor?
• What is the length of the contract term?

Would you like to see this exciting feature in action? We’d love to show you a demo! Simply click here or request a demo here.

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