Key results with Spendesk

• 94% faster processing: transaction processing was reduced from a full day to just 30 minutes.

• Full procurement process adoption: 100% adoption across all departments and teams.

• Real-time budget tracking: budget owners can monitor spend instantly, eliminating up to a full day of manual Excel work.

• Streamlined workflows: automated approvals and smart reminders remove bottlenecks.

About Codat

Founded in 2017, Codat is a UK-based data exchange and analytics platform designed to give financial institutions real-time visibility into their business customers’ financial data. Its technology is used by some of the world’s largest banks to increase share of wallet, reduce customer churn, and scale their operations.

The challenges

As Codat grew quickly, its finance team began to struggle with fragmented spend and procurement processes. Contract tracking, software management, and approvals were spread across multiple Google Sheets, disconnected forms, and different Slack channels.

This fragmented approach created significant challenges: missed renewals, compliance risks, and a frustrating experience for employees. The team was losing countless hours without real-time visibility over spend, approvals, or commitments.

The solution

Codat implemented Spendesk to bring all its finance operations together in one intuitive platform.

The finance team gradually expanded its use of Spendesk, moving from basic team-level controls to more detailed tracking by cost centre. They added procurement, purchase orders, expense reports, and invoice processing, all supported by automated workflows and helpful Slack reminders.

Streamlined procurement

Before Spendesk, the procurement process relied on a combination of spreadsheets and forms, creating confusion for employees around where to submit requests and making it difficult for Finance to track approvals and renewals.

With Spendesk Procurement, the transformation was immediate. The biggest benefit has been having an end-to-end procure-to-pay platform: employees no longer need to switch between different tools or search for information across multiple systems.

This consolidation gives employees one place to submit and track their requests, while automatic Slack reminders keep approval workflows moving without interruption. The result: fewer duplicated steps, less confusion, and a significantly better employee experience.

The results

Codat’s finance team has seen significant improvements since implementing Spendesk:

• Time saved: after implementing cost centres and spend categories, transaction processing now takes just 30 minutes instead of a full day.

• Real-time budget tracking: budget owners can monitor spend instantly, eliminating up to a full day of Excel work.

• Complete financial visibility: every request, approval, and renewal is now recorded in one central location, making compliance easier and enabling instant reporting.

• Procurement efficiency: the streamlined workflow, with automated reminders and clear approval routes, has removed bottlenecks for both employees and the finance team.

• Employee autonomy: the intuitive platform allows employees to manage their own requests without support, virtually eliminating queries to the finance team.

• Reduced manual work: automated categories and cost centres have removed repetitive data entry tasks while ensuring accurate and consistent financial data.

• Compliance confidence: the team always knows that approvals, renewals, and regulatory requirements are under control.

Ready to simplify your finance operations?

Discover how Spendesk can help your company centralise spend, streamline procurement, and save valuable time. Speak to one of our experts today.