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Home : Solutions : Spend Analysis : Features and Expertise

solutions

LEVERAGE TOOLS AND INTELLIGENCE THAT DRIVE SUPERIOR RESULTS

Leverage Manage
  • Flexible data model for high-volume processing with any kind of data or spend source
  • Gather ERP, purchasing, P-card, and legacy systems data for quick, high-quality insight
  • Classify and enrich across all categories, systems, and divisions for unmatched analysis
  • Enrich with third-party supplier and market content for enhanced quality and reliability
  • Artificial intelligence-powered classification with quick and easy model updating
Spend data extraction and classification
  • Customizable, drag-and-drop interface for savings opportunity identification and prioritization
  • Role-based dashboards populated with standard, pre-built and customer specific reports
  • Flexible drill-down controls for enterprise, line-item, or in-between level analysis
  • Objective-driven, preference-based and consolidated spend views with parent-child linkages
  • Customizable spend categorization with UNSPSC, SIC-Code, or enterprise-specific taxonomies
Savings opportunity identification and prioritization
  • User-defined workflows for classification and tools for single-day refresh processing
  • Algorithm and process application for high-quality, high-accuracy, high-granularity analysis
  • Grouping, normalizing and third party content leveraging for vendor family grouping
  • Best-of-breed rules and machine learning for highest-granularity spend categorization
  • Third party information-based enrichment and additional attribute capture
Data quality enhancement and refresh processing
  • Manage and maintain supplier groupings and structure for continuous improvement
  • Closed-feedback loop to capture insight on data elements classification improvement
  • Incremental data quality and value improvement driven by insight capture
  • Quick and easy classification updates to foster a sense of data ownership
Continuous data improvement
  • Goal performance measurement with accurate, up-to-date, cleansed and classified data
  • Rule configuration by commodity, company or role for best-practice processes
  • Create and update spend performance goals and metrics for individuals or groups
  • Scheduled reports and reusable templates for best-of-breed automation
  • Wave plans based on savings/value, business need, complexity and time-to-implement
Procurement performance collaboration
  • Solution set up, deployment, and configuration to ensure match with analysis goals
  • Practitioner training with best practices, execution, and optimal spend analysis
  • Data extraction management, classification support, and data quality enhancement
  • Implementation support, solution roll-out to speed company-wide adoption
Expertise and support
  • Hosted, best-of-breed solution designed for internet delivery with web services
  • Multi-channel technical and help desk support to aid buyers with analysis
  • Secure architecture and hierachy designed to protect users, reports, and data
  • State-of-the-art facilities, network, and hardware set for optimal performance
Infrastructure
  • The Epiq Spend Analysis features above are associated with the Custom-Deploy delivery option.
  • Those associated with cloud-based Software as a Service (SaaS) and Rapid-Deploy are a subset of this list.

LEARN MORE ABOUT EPIQ SPEND ANALYSIS