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 […]

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Spend Analytics

Why is Spend Analytics important?

Spend Analytics California State University has created a program on Spend Analytics and implemented it, presenting a clear sight to campuses and Chancellor’s Office to bring more savings. The California State University (CSU) previously identified billions of spend in 2011 yet was unable to analyze the reasons behind it. Back in history: CSU used guesswork […]

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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 […]

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