Spend Analysis — Business Benefits
20 Years of customer focus
Drive policy and contract compliance
Reduce maverick spend and drive approved-source buying by leveraging views showing spend with non-approved suppliers.
Drive budget compliance and preserve cost reductions with comparisons showing budgeted vs. actual spend
Pay lowest price
Prevent price inconsistencies and pay lowest price, empowered by flexible price consistency analytics
Reduce off-policy practices
Reduce off-policy practices and drive compliance with consistent best-practice workflows
Create an auditable record of enterprise spend
Oversee spend and confidently review policy compliance with measure-rich, enterprise-wide spend views.
Put controls in place and reduce improper practices by leveraging purchasing policy compliance visibility
Prepare for regulatory and financial reporting, empowered by single enterprise "source of truth"
Ensure that procedures and policies are adhered to with purchasing activity record repository
Continuous improvement and collaboration
- Manage supplier grouping
Manage and maintain supplier groupings and structure with supplier grouping maintenance tools
- Improved classification
Improve classification based on captured insights, empowered by classification closed-feedback loop
- Track and measure goal performance
Accurately track and measure goal performance by leveraging spend performance goals and metrics
- Accelerate procurement collaboration
Accelerate and improve procurement collaboration with scheduled reports and reusable templates