Expense Module

Overview

The Iridium BI Expense module allows firms to track and analyze their vendors spend, a critical component to support your firm’s expense control initiatives.

Features

  • Complete expense analysis and reporting solution for law firms. The expense data is sourced from the AP sub-ledger, providing users with a vendor-centric view of the expense data.
  • Complete set of Expense dashboards
  • Robust security only allows approved personnel to monitor and analyze expense data
  • Multi-currency support

Capabilities

  • Ability to monitor vendor expenses and identify trends where vendor expenses are either increasing or decreasing
  • Reporting and analysis of AP by vendor, including aging buckets. Breakdown of vendor expense is also available by Invoice.
  • Vendor expense can be viewed based on business units: Total Firm, Office, Department or Team
  • Fast queries and fast dashboards. The vast majority of queries render in one second, and dashboards that contain multiple queries render in four seconds or less.
  • Ability to classify vendors by Vendor Type for analysis and reporting

Benefits

  • Quickly identify vendors with increasing costs
  • Tightly monitor and report on AP by Vendor, a critical component of cash flow analysis
  • Power users are enabled for ad-hoc analysis of vendor expense and payables

Expense Measures

A measure is valued that stored in the cube. The Iridium BI Expense cube contains over 15 measures, including:

  • Expense Invoices
  • Average Daily Expense Invoiced
  • Expense Paid/Discount Paid
  • Expense Payment Speed
  • AP Amount
  • AP Days
  • Expense Payment Realization %
  • Exchange Rate, and more!

Dimensions

Over 15 dimensions are offered for slicing the measures, including:

  • Office, Department, Team and Total Firm
  • Invoice
  • Vendor
  • Invoice Date
  • AP Aging Buckets
  • Payment
  • Year/Period (including MTD, QTD, YTD, and R12)
  • Currency, Exchange Date
  • Transaction Type, and more!
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