Spend Management Software
Transform spend management, cut inefficiencies, boost visibility, and delight employees.
Executive Summary
Paylocity's Spend Management Software is a cloud-based solution designed to help businesses, particularly mid-market and enterprise companies, manage their expenses and optimize financial operations. It aims to cut inefficiencies, boost financial visibility, and enhance the employee experience by streamlining the entire procure-to-pay lifecycle. The platform automates various touchpoints of company spending outside of payroll, including expense management and accounts payable (AP) automation. Key features leverage AI, such as optical character recognition (OCR) for detail extraction from documents and AI-powered invoice processing, to reduce manual effort and improve accuracy. Paylocity emphasizes a modern approach to finance, integrating spend management with broader HR and payroll systems. It offers robust APIs for seamless data exchange with other business applications, ensuring a unified platform experience and secure data handling with enterprise-grade security protocols and compliance certifications like SOC 1, SOC 2, and GDPR.
Use Cases
- Automating expense report submission and approval for employees.
- Streamlining accounts payable processes, including invoice processing and vendor payments.
- Gaining real-time visibility into company spending across departments.
- Enforcing spending policies and ensuring compliance.
- Optimizing financial operations by identifying cost-saving opportunities.
Features
Visibility
- Real-time Spend Visibility: Gain comprehensive, real-time insights into all company spending to identify trends and control costs.
Intelligence
- Automated Data Extraction: Utilize AI-powered OCR to automatically extract critical details from receipts and invoices, minimizing manual entry.
Technical Specifications
- Deployment
- SaaS
- API Available
- Yes
Security & Compliance
Certifications: SOC 1, SOC 2, GDPR
Encryption: Enterprise-grade encryption for data in transit and at rest.
Pricing
- Starting Price
- Contact sales
- Target Customer
- Mid-Market,Enterprise
About Paylocity
Paylocity is an award-winning provider of cloud-based HR, payroll, and spend management software solutions. It unifies processes across HR, Finance, and IT on a single, innovative platform to automate work and build stronger organizations.