Spend Analysis — Features and Expertise

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This page has features and expertise information on the spend analysis software tools and intelligence that drive superior spend analysis results.

features spend analysis software by Epiq Tech Software

“From spend data classification to savings opportunity identification and data quality enhancement, the spend analysis software tools and intelligence are what an experienced team really needs.”

Spend data extraction and classification

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

Savings opportunity identification and prioritization

Customization, drag-and-drop interface for savings opportunity identification and prioritization. Role-based dashboards populated with standard, pre-built and customer specific reports.

spend analysis software with drill-down controls

Drill-down controls

Flexible drill-down controls for enterprise, line-item, or in-between level analysis

consolidate spend views with spend analytics solution from Epiq Tech Software

Spend views

Objective-driven, preference-based and consolidated spend views with parent-child linkages

spend analytics tools for spend categorization

Spend categorization

Customizable spend categorization with UNSPSC, SIC-Code, or enterprise-specific taxonomies

Data quality enhancement and refresh processing

User-defined workflows for classification and tools for single-day refresh processing. Algorithm and process application for high-quality, high-accuracy, high-granularity analysis.

  • achieve vendor family grouping with spend analysis software by Epiq Tech Software
  • spend analytics tools with granular spend categorization
  • information-based enrichment features in the spend analysis software
  • Vendor family grouping

    Grouping, normalizing and third party content leveraging for vendor family grouping

  • Granular spend categorization

    Best-of-breed rules and machine learning for highest-granularity spend categorization

  • Information-based enrichment

    Third party information-based enrichment and additional attribute capture

Continuous improvement and collaboration

  • Continuous data improvement
    • 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

    improve data with Epiq Tech Software spend analytics solutions
  • Procurement performance collaboration
    • 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

    spend analysis software for procurement performance collaboration
  • Expertise and support
    • 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 bundled with the spend analysis software
  • Infrastructure
    • 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

    secure and state-of-the-art infrastructure

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