Data Optimization via SpendHQ

 In Company News, Data Optimization, Procurement Blog, Procurement Solutions, Procurement Technology, Products Updates, Spend Analytics Software

A SaaS Solution Combined with Data Optimization Services

Our full-service SaaS (Software-as-a-Service) spend analytics solution delivers actionable insight for sourcing and procurement professionals. With SpendHQ as your command center, you give procurement leaders inside your organization the power to impact the bottom line.

SpendHQ |Categorize Spend Data

It couldn’t be any simpler. SpendHQ takes all your messy, raw spend data through our market-leading spend data optimization process to ensure a minimum target of 98% spend categorization.  Based on our 15+ year history of enabling spend visibility for leading companies, our innovative data approach incorporates machine learning and algorithm-based analytics built upon the $1.5T in spend and 100MM unique vendor records we’ve categorized over the years.  Backed by the procurement and sourcing expertise of Insight Sourcing Group, SpendHQ is the only spend analytics technology provider that can inject deep expertise into the data optimization process.

SpendHQ | Humanware

It is our belief that spend analysis cannot be fully automated. Many companies attempt to fully automate spend analytics, and they use databases that really weren’t designed for procurement categorization. The end result is data that really isn’t as accurate as it could be. SpendHQ doesn’t do that. We believe that a person needs to get involved in the data to review it and that sourcing expertise needs to be overlayed to every spend analysis. Sourcing professionals review all of the work SpendHQ does to ensure everything is categorized in a logical way. This is the component of our process that is simply irreplaceable. We call it “Humanware,” the secret behind our software and data optimization services.

Each data optimization process is custom. Sourcing experts will work with an organization’s procurement team to develop a custom spend taxonomy that reflects a true sourcing-level category structure. Too often we see companies struggle with having to interpret GL or UNSPSC codes that do not reflect a true sourcing perspective. Learn more about how to overcome the stunningly common bad data problem organizations continue to suffer from in this free white paper.

SpendHQ | Spend Visibility Once the initial data optimization process is complete, SpendHQ loads the data inside our spend analysis tool. With one click, you have your entire organizational spend available for your team to access and begin to identify untapped saving opportunities. Your data will continue to go through the same rigorous cleansing and optimization process for each refresh, getting faster over time as SpendHQ learns your data.

Learn more about SpendHQ’s unique data optimization process in our spend analysis data sheet.

 

 

 

 

About SpendHQ

SpendHQ is a spend analysis solution that provides rapid, accurate and detailed visibility into enterprise spend data. This full-service SaaS (Software-as-a-Service) spend analytics solution delivers actionable insight for sourcing and procurement professionals.

Recognized for innovation and industry impact in the procurement space, SpendHQ was named to the 2015 Red Herring Global 100 list, and listed as a finalist in the CODiE 2016 Awards as a “Best Supply Chain Management” solution. With SpendHQ at their fingertips, clients ranging from Fortune 500s to mid-market companies are finally able to see their enterprise spend clearly and drive savings confidently.

As a standalone extension of Insight Sourcing Group, SpendHQ is built by industry leaders with unmatched sourcing knowledge. Inc. Magazine has ranked Insight Sourcing Group among the fastest-growing private companies in America every year since 2008. In 2015, Insight Sourcing Group was also named the #1 Boutique Consulting Firm in the U.S. by Vault.com and the #1 Small Strategy Firm by Consulting Magazine.

Learn more about SpendHQ’s spend analysis solution and start taking control of your enterprise spend data at www.spendhq.com and request a free spend analytics demo today.

Stay up to date with all things procurement by visiting SpendHQ’s procurement blog, and by following on LinkedIn.

 

 

 

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