What is Quolum and how does it work? Quolum is a software-as-a-service (SaaS) spend management tool that simplifies invoice management by directly attaching invoices from vendors to transactions. This feature was designed to address the issue of an overloaded inbox with SaaS invoices. The finance and accounting teams can easily locate these invoices on the dashboard when reconciling entries. Quolum also handles pro-ration letters, refund invoices, and payment receipts. It acts as a centralized repository for your contracts, storing structured meta-data such as vendor information, renewal dates, cancellation windows, court of law, and data retention and processing rules. With Quolum, you can conveniently purchase all your SaaS products. The software utilizes advanced tracking capabilities to monitor recurring costs, cancel product trials, and keep track of spending. All vendor invoices are automatically consolidated into a single bill for your SaaS purchases. By obtaining a comprehensive view of your SaaS fleet, you can make informed decisions about renewals. Consumption data at the feature level is available for a limited number of SaaS services. Additionally, Quolum provides easy access to product, team, or departmental reports, enabling you to plan ahead for recurring purchases and renewals.
