Spend Analytics
The ability to manipulate core data to provide meaningful
information can be extremely powerful and effective. Spend Analytic reporting tools allow bespoke reports to be instantly created thus giving the Buyer almost any spend information that they so desire. Examples could include:
• The level of contract compliance per category/ per supplier/ per buyer/ per operating company
• The frequency of eAuctions per category/ per supplier/ per Buyer
• Cost movements per category/ per supplier/ per buyer/ per
division even with the same suppliers
The possibilities are almost endless in how the data can be manipulated to produce meaningful and valuable information. It is also possible to drill down from a summary position to very low
levels of detail to establish specific information instantly.
Integrated Spend Analytic tools are potentially of enormous value when there is a need to manipulate and absorb lots of data. One should also not dismiss more generic reporting tools which have enhanced reporting capabilities.
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