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Oracle Offers Sneak Peek at Possible Procurement Analytics Enhancements
Oracle is offering some early hints at planned procurement and spend analytics capabilities that procurement managers might be seeing sometime next year in an upcoming release for Oracle E-Business Suite Advanced Procurement and PeopleSoft Enterprise.
Analytics offer procurement departments ways to better analyze spend, off-contract purchasing, and supplier performance and identify cost saving opportunities. With economies contracting around the world, deeper insights into procurement activities are becoming more crucial for cutting costs and identifying reliable suppliers.
The planned additions are expected to address these needs in a variety of ways, including technology for enhanced analysis of procurement and non procurement spending, says Rao Adivikolanu, director of product management and strategy for Oracle Procurement.
“The biggest problem for large, global companies is the lack of a consolidated view of spending,” he explains. “This makes it difficult to answer even simple questions, such as ‘How much am I’m spending on a given commodity or product?’”
The enhancements being considered by Oracle could, for example, allow department heads to closely track overall spending, including T&E expenses, which typically aren’t part of standard procurement processes but nevertheless represent significant costs for most companies.
“Managers definitely need to drill down and see how much they’re spending on the T&E, including how much is for airfare, how much for car rentals, and which departments are spending the most?” Adivikolanu says.
Also provided might be prebuilt hooks for integrating the data with United Nations Standard Products and Services Code (UNSPSC) classification system, he adds.
Other changes under consideration include:
- Enhanced invoiced spending and contracts compliance analysis
- Expanded analysis of price variance and price optimization
- Oracle E-Business Suite adapters for expenses analysis
This content is intended to outline our general product direction. It is intended for information purposes only, and may not be incorporated into any contract. It is not a commitment to deliver any material, code, or functionality, and should not be relied upon in making purchasing decisions. The development, release, and timing of any features or functionality described for Oracle’s products remains at the sole discretion of Oracle.
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