Spend analytics reveals opportunities — both tactical and strategic — to save money, make the purchasing process more efficient, and better align expenditures with business objectives. It elevates the purchasing process from a set of workflows to a strategic endeavor.
- Get 360° visibility of all spend: On-demand reporting, and insights support better decision-making. Visualize your organization’s spending patterns and behavior by monitoring spending trends and projections.
- Drive savings: See spend by department, vendor, subsidiary, and category to proactively identify cost-saving opportunities.
- Benchmark operational efficiency: Hit your productivity goals by gaining real-time visibility into your spend processes across a variety of metrics, from invoice processing cycle times to levels of cash back from paying bills.
- Boost compliance: Track spend under management vs maverick spend. Take timely corrective actions to reduce non-compliant spending.
- Analyze spend: Slice and dice your spend data and give all stakeholders visibility into spend so that they can optimize costs and improve efficiency.
What you’ll learn from this ebook:
- What is spend analytics?
- What is spend under management?
- Spend analytics and business efficiency
- Key components of spend analytics
- Benefits of spend analytics
- Chosing between a point solution or an integrated one
- From reactive to proactive procurement