Spend Analysis — Business Benefits

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This page has information on how the spend analysis software tools and intelligence empower spend analysis teams to drive business success.

spend analysis software for savings opportunity identification

“From savings opportunity identification to ensuring policy and contract compliance, the spend analysis software tools and intelligence empower an experienced team to accomplish its objectives.”

Identify savings opportunities

Spot contract establishment savings opportunities with un-leveraged & off-contract spend views.

  • Conduct enhanced-leverage negotiations by leveraging demand aggregation decision intelligence

  • Leverage consolidated supply in negotiations, empowered by advanced commodity by supplier insights

  • Identify substitutes and rationalize parts with clear duplicate part sourcing visibility

Drive policy and contract compliance

Reduce maverick spend and drive approved-source buying by leveraging views showing spend with non-approved suppliers.

spend analytics solution to drive budget compliance

Budget compliance

Drive budget compliance and preserve cost reductions with comparisons showing budgeted vs. actual spend

pay lowest price with spend analytics software by Epiq Tech Software

Pay lowest price

Prevent price inconsistencies and pay lowest price, empowered by flexible price consistency analytics

spend analysis system to reduce off-policy practices

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.

  • spend analytics solutions to establish controls
  • reporting preparation with spend analysis software from Epiq Tech Software
  • spend analytics software to ensure adherence to policies
  • Establish controls

    Put controls in place and reduce improper practices by leveraging purchasing policy compliance visibility

  • Reporting readiness

    Prepare for regulatory and financial reporting, empowered by single enterprise "source of truth"

  • Ensure adherence

    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

    manage supplier grouping with spend analytics solution by Epiq Tech Software
  • Improved classification
  • Improve classification based on captured insights, empowered by classification closed-feedback loop

    spend analysis software to improve classification
  • Track and measure goal performance
  • Accurately track and measure goal performance by leveraging spend performance goals and metrics

    spend analytics tools to track and measure goals
  • Accelerate procurement collaboration
  • Accelerate and improve procurement collaboration with scheduled reports and reusable templates

    collaborate more with spend analytics solution from Epiq Tech Software

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