Direct Cost Savings Report
Brightflag's Direct Cost Savings Report is available to Client Admin users of Brightflag. Once this feature is enabled, you can access it in the Reports section of Brightflag: Reports > Direct Cost Savings Report.
This is a new Brightflag report that will enable users to report on direct cost savings realized through Brightflag. This report makes it easier & quicker to report on how your organization has controlled and reduced cost through invoice review. Report and export from one central place on all types of Invoice Adjustments.
Client Admin users can access the new report from the Reporting menu and be able to set the date range they want to view. Customers can view the report on screen and also then download the report in excel format.
How to Run the Report
You can select a custom date range or use the Brightflag canned reporting periods. Note that the date range filter is based on the Invoice Date.
Be sure to filter for a broad date range if you wish to capture a direct cost savings figure for all invoices.
All invoices roll up to one defined currency. It will default to your reporting currency, but you can filter this to EUR, USD, GBP or AUD
This report will generate results based on the latest version of an invoice with all key information relating to that invoice. Key information points included in this report are:
- Status - this is the current status of the most recent version of the invoice
- First submission date - the date the first version of the invoice was submitted to Brightflag
- Current submission date - the date the most recent version of the invoice was submitted to Brightflag
- First version amount - the total spend (fees +expenses +taxes - discount) on the first invoice submission
- Current version amount - the total spend (fees +expenses +taxes - discount) on the current invoice submission
- Approved Amount - the total spend (fees +expenses +taxes - discount) approved on the invoice
- Savings amount - this includes the difference between spend on the First Version Amount and the Approved Amount. It also includes the spend (fees +expenses + taxes - discount) on an invoice that is rejected, with no resubmission, where the rejection date is longer than 90 days from the current date.
Click on the Export button to get the total direct cost savings.
Once you have successfully exported the report, you can focus on the rejected invoices by filtering the status to “rejected” and filtering high to low on the “savings amount”. This will provide you with greater detail into rejected invoices.