Spend Analysis

The 4C approach that can improve your spend analysis

The organizations need to have a full view of its functions in order to transform to the better. Procurement requires the control and hold of the total spend done by the different departments. Since the organization has multiple ERPs for different categories, it becomes difficult to combine a preview of the overall spend done. Spend […]

Read more
Spend Analytics

Challenges organizations have to face while implementing Spend Analytics

Spend analytics should be a crucial part of any procurement strategy but implementing spend analytics in the strategy is not easy. It calls for a great deal of effort to make spend analytics a part of the organization. The economic conditions are making companies more responsive to implement programs that lead to decreasing the costs. […]

Read more
Spend Analytics

What are the benefits of Spend Analytics for a company.

Spend Analytics is the analysis of the amount that the company spends for the management of the products and services. There are many companies that are spending a decent amount of money only to assure that they will provide their customers with the best services. However, a common mistake they make is they do not […]

Read more
Spend Analytics

What is the importance of Spend Analytics

Spend analytics can deliver big benefits to any corporate organization. Spend analytics can help in gaining the visibility to the spend data. It can help to dive deep and track the metrics of procurement performance to provide some actionable insights that can help to identify the opportunities for the process of consolidation to the spends. […]

Read more
Procurement Analytics

What is Procurement Analytics? Why and how it is implemented?

What is Procurement Analytics? Procurement analytics is the process of using quantitative methods to derive actionable insights and outcomes from data. It involves the capture and use of data to support fact based decision making and gaining competitive advantage. It reports typically on what has happened in the past and creates estimate, using the predictive […]

Read more
Spend Forecasting

Spend Forecasting is the most important tool for Procurement. Why?

Spending can have a forecast which prepares a data on how and when the spending will be done and why people would do that. It is a wise step for the procurement decision maker. Spend Forecasting is the most important tool for procurement. Why? The rules applicable in the context of direct spend are not […]

Read more
Spend Analysis

What is Spend Analysis?

Spend analysis is the process based on the organization of the spend data with goal of improving the efficiency and reducing the costs. The steps included in the process are : Identifying Gathering Cleansing Grouping Categorizing Analyzing Real-time data is used to ensure the accuracy of the report of the analysis generated. Spend management controls […]

Read more
Savings Management

Savings Management: Methods to save more

A group of activities that come under the forecasting savings in procurement are related to the savings management. There can be savings mapping to budget, strategic sourcing plans and the tracking of the savings realization (the savings that actually happen after following a particular procedure).  The saving projects and the realized savings are mentioned and […]

Read more

Request a Demo

How to Guides

Request Product Sheets

Know More