Spend Analysis

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 … 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 … 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 … 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 … Read More

Spend Analytics

Spend analytics’ in action and its benefits.

Spend analytics are basically focused on the improvements that are required to be made in the operational sector. Analytics is mainly the systematic data or the information that is received from that data. The hidden working that causes the big results to happen, need insights and re-examination. It is just because of the spend analytics that are created skillfully, the company is able to check the things that do more harm than good. Whether it is the understanding of the data or controlling the costs to increase the level of profits, it is all known with the help of spend analytics. … Read More

Savings Management

Savings management in a firm. How a savings software helps in it?

Savings management in terms of finances is termed as the forecasting or estimation of the savings on the basis of plans carried out under every activity. Every firm keeps aside a definite amount of transaction or returns which are called savings. Saving management in a firm is the result of combined efforts from both the suppliers and customers. … Read More

Data Analytics

Event – Best Practice in Analytics Roadshow – Sponsored by Simfoni

The event will include in-depth case study and sharing of best practice. It is for senior management executives to better understand what their data means and how to use it in their decision making. … Read More

Procurement

When is Reality of Global Procurement Illusion?

The scientific community that is working on answering the question of “what is our reality — the universe — made of?” is increasingly coming to the conclusion that the underlying matter of particles, that make up our reality appear to … Read More

Data Analysis

Use Data Analysis and Insights to Drive Action – Not Justify Poor Decisions

In the same way that many people approach science with preconceived ideas and then look for “facts” to support their hypotheses, some people in business (and businesses as a whole) use data to try to support decisions they have already … Read More

Procurement Technology

Evolving use of Technology and Analytics in Procurement and Supply Chain.

It was a great opportunity for us to bring together a collection of interesting speakers to impart their knowledge and experience of Procurement Technology in the Middle East. On an uncharacteristically rainy February evening in Dubai, we ran the second … Read More