SPEND ANALYTICS

Get full transparency on your company's spend with actionable insights and recommendations.

Knowing and understanding your company’s spend is the starting point for making data-driven procurement decisions.

Our experts will work collaboratively with you to gather and analyze your spend and provide actionable insights and recommendations. The results of this analysis can be used immediately to drive meaningful, measurable, and quick change within your procurement processes and organization.

Our Deliverables to You

Holistic View of Your Company’s Spend

Delivered as an Executive Dashboard.

Customizable to your specific business.

One-time or ongoing management.

Actionable Insights & Recommendations

Delivered as a presentation to your key stakeholders.

Recommendations to be tailored to your specific business objectives on one or more of the following categories:

  • Cost Savings

  • Supplier Management 

  • Strategic Decision-Making 

  • Risk Management

  • Contract Management

  • Category Management

  • Supplier Diversity

  • Forecasting and Budgeting

  • Process Efficiency

  • Performance Metrics

  • Audit & Compliance

  • Supplier Collaboration

Our Process

Data Collection and Cleansing

Collect and consolidate spend data from various source systems (i.e., ERP, e-Procurement, PO, T&E, P-Card, Contract Management).

  • Cleanse the data to eliminate errors and supplier duplication.

Classification and Categorization

  • Classify spend using industry- standard taxonomies, such as UNSPSC, or will create a customized taxonomy based on your specific requirements.

Analysis and Benchmarking

  • Uncover trends, patterns, and anomalies.

  • Identify areas of inefficiency, supplier redundancies, cost-saving opportunities, and potential risks.

  • Benchmark your data against industry standards and best practices.

Actionable Insights and Recommendations

  • Supplier consolidation.

  • Renegotiation of contracts.

  • RFP opportunities (sourcing wave plan).

  • “Quick wins” versus longer term opportunities.

  • Risks and Mitigation.

Spend Analytics Dashboard and Reporting

  • Ongoing management of spend through dashboard.

  • Real time or near real time to ensure you stay updated on procurement performance and can share insights with key stakeholders.

Executive Summary

Depending on your business objectives and data sources, we will tailor your dashboard to your specific needs.

Example Executive Summary

Typical Data Points

  • Total Spend

  • Total # of Suppliers

  • Suppliers ranked in order of total spend

  • Cumulative % of supplier of total spend

  • Spend by: Category, Geography, GL, Business Unit, entity

  • A,B,C Classification

  • Drill-down on Category, Geography, GL, Business Unit.

  • Spend under Management vs. Rogue Spend

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