Maverick spend refers to purchases made outside approved procurement processes, leading to inefficiencies and financial risk. Learn how InvoiceRunner can help manage and automate invoice processing to mitigate these risks.
Maverick spend is a term that haunts finance teams, particularly in small businesses and accounting firms, where unauthorized purchases can lead to significant budget overruns and compliance issues. When employees bypass established purchasing processes, it creates a lack of oversight and unexpected expenses. This often results in wasted time spent trying to reconcile accounts and clarify disbursements that appear unaccounted for. Inefficient manual invoice processing can exacerbate these problems, as unapproved spending slips through the cracks, complicating financial management and forecasting.
InvoiceRunner addresses the maverick spend challenge by bringing automation and rigor to the invoice process. With AI-powered monitoring of your email inboxes, it automatically detects incoming invoices from various sources, whether they meet approval protocols or not. This streamlined method ensures that all invoices are validated for compliance with company policies, reducing the risk of maverick spending. There's no need for manual data entry or tedious variance checks, freeing your finance team to focus on strategic tasks rather than chasing down rogue invoices.
The transformation experienced by users of InvoiceRunner is profound. By automating the monitoring and review of invoices, businesses can significantly reduce the incidence of maverick spend. Finance teams report having more control over their budgets, less frustration dealing with unauthorized purchases, and quicker turnaround times for invoice processing. With tools in place to validate and approve invoices easily, businesses are empowered to make informed decisions and improve their financial accuracy.
Common challenges faced every day
Purpose-built invoice automation
Tangible benefits that impact your bottom line
Free up your team from tedious invoice processing tasks, allowing them to focus on strategic initiatives.
Leverage AI to achieve near-perfect accuracy in data capture, minimizing errors associated with manual entry.
Automated checks for duplicate invoices protect your finances and ensure proper budgeting.
Benefit from one-click syncing to Xero, QuickBooks, and other platforms for real-time tracking.
Hit the ground running—connect your accounts quickly with minimal downtime.
Handle increased invoice volumes effectively without the need for additional hires.
Everything you need to automate invoice processing
Monitor Gmail or Outlook 24/7 for invoice emails.
Never miss an invoice, authorized or unauthorized.
Extract vendor details, dates, and amounts from any invoice format.
Avoid template restrictions and capture data accurately.
Verify calculations before syncing invoices to accounting software.
Catch errors automatically before they affect financial reporting.
Sync seamlessly to Xero, QuickBooks, Zoho, and more.
Effortless integration ensures accurate financial records.
Check for duplicate invoices automatically.
Prevent costly overpayments due to repeat invoices.
Match invoices to existing vendor data.
Keep vendor information current and prevent unauthorized purchases.
Real scenarios from users like you
An online retail business increases efficiency by automating invoice processing and minimizing unauthorized purchases.
Example: They cut invoice reconciliation time from days to hours.
A small service company implements InvoiceRunner and reduces maverick spend by 30%.
Example: Employees now submit all expenses through approved channels.
An accounting firm spends less time on input errors and more on strategic growth ' thanks to automation.
Example: They achieve 99.2% data accuracy with AI.
A mid-sized tech firm integrates InvoiceRunner to track vendor payments accurately, avoiding delays.
Example: They see a 40% improvement in timely payment processing.
InvoiceRunner is designed to work with your existing tools
Link your Gmail or Outlook account securely to start monitoring.
Easily integrate with your existing accounting software.
All incoming invoices are monitored and details are extracted automatically.
Draft bills appear for your review, ready for approval.
Seamless integration with popular platforms
“InvoiceRunner has completely transformed how we handle bills. We've reduced unauthorized spending significantly and now focus on our business growth.”
“We've saved countless hours of work, all while keeping our vendors happy and our invoices in order. Can't recommend it enough!”
Most users are up and running in under 5 minutes.
PDF, images (JPG, PNG), and scanned documents.
We use bank-grade encryption and never sell your data.
All invoices are created as drafts for your review.
Xero, QuickBooks, Zoho Books, FreshBooks, and Sage.
Yes! Enjoy 10 free extractions, no credit card required.
Join businesses saving hours every week with InvoiceRunner.
Start Free TrialInvoiceRunner automates the tedious parts of accounts payable.