Procurement Spend Analysis

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Procurement Spend Analysis: Take control of your supplier spend

As an organization becomes more adept at spend analysis, it increases supplier value and performance to ultimately gain increased opportunities that save and maximize the total cost of ownership (TCO) of all products and services.

Instead of depending on industrial spreadsheets, the Procurement Spend Analysis Solution provides a means to help procurement and finance customers automate the process of analyzing spend data from transactional systems (ERP + P2P) to create future forecasts that better predict supplier spend and savings ideas.

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A new approach to spend analysis

Supplier globalization and events impacting supply chains, such as tariffs and pandemics, place increased pressures on finance and procurement to better understand supplier spend.

Organizations must take a full view of their supplier spend from the past, present, and future to sustain operations in times of crisis and ensure profitability. Increasing visibility into supplier expenditures across business lines and geographies to identify opportunities for savings is essential.

With this solution, procurement teams can align global stakeholders by providing a centralized view of goods and services spend in one connected cloud-based platform.

Solution features

This solution offers the building blocks to effective spend analysis:

  • Connect finance and procurement to form a spend management hub.
  • Categorize and segment your suppliers and cost categories.
  • Benchmark spend to make informed internal and external comparisons.
  • Use volumetric drivers and run rates to forecast easily.