Is your organization truly optimizing costs across the business?
Spend Analytics is a critical tool that empowers finance and procurement organizations to proactively uncover savings opportunities, manage risk, and improve supplier relationships.
Click through this interactive tour to learn more.
Track procurement spend, employee expenses, and payment performance throughout the entire organization.
Maintain a shared view of finance and procurement KPIs in one place, automatically synced for analysis.
Compare performance against budgetary benchmarks to optimize resources while proactively monitoring compliance.
Uncover actionable insights across many dimensions such as category, business unit, geography, time period, and more. Get answers to questions, such as: Who are my top 10 suppliers by spend amount? What are my top spend categories, and how have they changed over time? How many active suppliers are contributing to total spend?
Identify rogue spend to drive sourcing strategy adoption and negotiate the most competitive pricing terms with suppliers.
Example: A high rate of off-contract spend on laptops in certain countries indicates a potential opportunity to sign new suppliers in this region.
Investigate granular details, keeping the entire procurement team abreast of opportunities to further negotiate cost savings.
By consolidating off-contract purchases with one key supplier, we increase the likelihood of negotiating volume discounts at a better rate.
Optimize employee expense policies and improve audit performance to speed reimbursement.
Machine learning combs through large volumes of spend data to surface unforeseen anomalies and subtle patterns.
Example: Uncover audit violations by infraction type and business unit.
Include external data sources in your analysis with a few simple clicks.
For example, blend third-party corporate social responsibility (CSR) data into your analysis to better inform organizational partnerships. Find out if choosing a supplier with a low environmental stewardship score will put your own brand at risk?
Or combine data from your travel management system to strengthen negotiations for better corporate rates or other employee perks with top travel vendors.
Transition from spend analysis to payables transaction details to see the intricate web of expenses and payments that underpin the broader expenditure picture.
Optimize cash flows according to business priorities with a complete view of AP payment process performance—aging, overdues, DPO, and more—all within one dashboard.
Easily drill down into overdue purchase invoice transactions to view contract usage or off-contract details.