Empower Procurement with a Data Analytics Solution
Empower Procurement with insights from an Analytics solution.
Next-generation Procurement teams need real-time access to accurate data. Slicing and dicing this data, they uncover valuable insights, develop competitive advantages, and distinguish themselves as essential business partners. If you’re ready to boost efficiency, deliver on your target business objectives, and better engage the executive suite.
What are you waiting for?
Benefits of Procurement Data Analytics
- Deeper insights and more actionable intelligence.
- Better savings and compliance tracking.
- Greater collaboration between Procurement and Finance.
- Reduced risk.
- Streamlined processes and centralized information.
- More consistent, impactful reporting.
- Increased buy-in for Procurement’s initiatives.
Elements of Procurement Data Analytics Solutions
- Spend Analysis: Consolidate all date sources, dive into historical spend, and identify opportunities to drive savings and improve spend management. A great spend analytics platform makes it possible to all of this faster, easier, and with more agility.
- Savings Tracking: Do more than just recognize non-compliance and other savings challenges, identify opportunities to change processes and win recognition for Procurement. Tracking tools make it simple to calculate savings, realize cost avoidance, and optimize savings projections for the short and long-term.
- Procurement Analytics: Access sourcing data, spend details, contracts, supplier profiles, and scorecards with just a few clicks to optimize Procurement’s performance and set goals the function can deliver on.
- KPIs and Dashboards: Identify and perform to the KPIs that are most relevant to your organization. With a streamlined, user-friendly dashboard, leverage master data elements to put insights and power into Procurement and Finance’s hands.
Consider introducing a Procurement Data Analytics solution as part of a comprehensive digital transformation. With digital tools supporting each stage of the sourcing and purchasing cycle, you’ll generate additional value at every opportunity. With time, Procurement will evolve from a back-office entity into a valued business partner. Reach out to learn more about Procurement’s evolving role, the value of next-generation technology, and the additional value our hands-on spend management consulting can provide.
Contact our Procurement Data Analytics Team