Paymerang’s Director of Data Analytics Shares How Being a Data-Driven Organization Benefits Clients
Paymerang values simplicity. At the heart of that lies Paymerang’s Data Analytics team. This team ensures that internal and external data is protected, accurate, and always easy to understand.
Mark Elmendorf, Director of Data Analytics at Paymerang, sat down and shared insight into the work that the Data team does and how this impacts the company and our clients.
How long have you worked at Paymerang? What has your Paymerang journey looked like throughout that time?
I have been at Paymerang for eight years now. One thing I love so much about working at Paymerang is that every day will be a little bit different. Working in an evolving industry means there’s always a new challenge to overcome.
What do you and your team do here at Paymerang?
My team and I love the fast-paced, dynamic nature of what we do. Paymerang’s Data Analytics team is responsible for delivering enhanced, real-time data reports that help our clients and team members make quick, informed decisions. We consider ourselves stewards of data, meaning we go above and beyond in everything we do, including creating reports, reviewing spreadsheets, and crunching numbers. We work to safeguard data to ensure it is secured and perform quality controls that allow us to see anomalies in data that could impact decision-making for us or our clients. Data governance (the process of managing the availability, usability, integrity, and security of the data in enterprise systems, based on internal data standards and policies that also control data usage1) is also a big responsibility of ours.
How has the Paymerang data team grown over the past four years?
Paymerang has rapidly grown since 2018, internally and externally. We realized that we were sitting on a treasure trove of information and strategically leveraged those analytics to become a data-driven organization. Our technology has evolved during this growth period and combining that with advanced data has added value to our work at Paymerang.
How does the work you do directly affect clients of Paymerang?
We provide clients with enriched data information, allowing them to make informed decisions and better predictions around risks, cost savings, etc., to optimize their performance. Also, Paymerang’s on-demand advanced reporting capabilities, which include a payment history report, archived documents, and a payment status report, give users greater transparency into their Accounts Payable (AP) process.
How does having real-time data insights benefit a business?
Having instant, real-time data at their fingertips helps them make informed decisions about improved customer service or sales trends, for example, in a split second if needed.
Do clients need any data training to leverage the insights Paymerang provides? When reviewing that information, is it necessary to be a data expert?
No, one of our main objectives when delivering data reports is to ensure that intuitiveness is present. People shouldn’t have to overthink the data they are looking at or how to interpret it. We provide information that is easy to understand, whether presenting raw table data or creating visualization in the forms of charts, dashboards, etc., to tell a story.
How have our clients’ data matured over the past two years?
In the early stages of this journey, we realized that there was valuable data available that we hadn’t explored yet. Now, we are data reformed, which enables us to produce the enriched and enhanced data reports we give to clients. Internally, data stewardship and governance have played a significant role in the maturation of the data we provide.
How does your team contribute to Paymerang’s overarching mission?
We live and breathe by the Paymerang values and continually work to incorporate them. Working with various Paymerang departments allows us to exhibit simplicity, one of my favorite values. Knowing we are creating intuitive products that make our clients’ lives easier is one of my favorite parts of my work.
What does the future of Paymerang data look like for our clients?
We want to enhance and enrich the data experience from our customer’s purview. One of the big objectives that we’re working on starting this year into next is spend analytics. That will give clients deeper insight into payments and allow them to do a comparative analysis to see opportunities for cost savings and more.
Paymerang’s decision to become a data-driven organization has helped our clients and us. Data is essential because it gives insight into areas we can improve, which in turn helps us serve our clients better. Paymerang’s real-time data insights constantly help business improve their efficiency, visibility, and profitability.