finfo’s automated cost visibility solution leads to actionable insights on monthly corporate expenses, driving down costs by 30% in year one alone.
Specialist FinTech business finfo has launched to bridge the gap between business intelligence tools and managed service providers by offering bespoke infographic style reporting on corporate mobile phone usage and other expenses.
Managing Director & Founder Anthony Devine provides a brief insight into the industry. “FTSE 100 companies typically spend over £1m per year on business mobile contracts and private use contributes around 48% of the total cost.”
CIOs and CFOs today face a tremendous lack of transparency and control when it comes to centrally paid expenses such as company mobile phones. Decentralised or hidden reporting leaves the end-user unaware of their business spend.
Unpopular policies can have disastrous effects on morale and engagement. Direct employee engagement provides a sense of accountability, which encourages employees to be thoughtful spenders. Self-regulation and changing habits enable organisations to achieve savings and increase the value of each pound spent without impacting on day-to-day activities.
Chief Technology Officer Stuart McLellan explains how finfo helps with changing habits. “Our bespoke reports are delivered direct to employees via email and text message. This enables them to gain visibility of their usage compared to their peers, without the need to login to a portal.”
Portals provided by network providers rarely see login rates pass 20%. 92% of finfo reports are opened within 3 minutes, enhancing cost visibility and governance.