SpendHQ Adds New Category Management Solution for Full Spend Intelligence
Atlanta, August 10th – SpendHQ, the industry-leading spend analytics platform, announces the launch of its new Category Management module, providing the enhanced insights and analytics category managers need to take data-driven action. The latest in the line of 2021 product releases from the spend analytics company, Category Management is already receiving recognition for its industry-leading capabilities by leading procurement and supply chain intelligence firm Spend Matters.
SpendHQ’s Category Management fundamentally differentiates the SpendHQ spend intelligence solution from other providers in this market because it melds external supply market and supplier price insight with industry procurement expertise. The new Category Management module provides an actionable view into opportunities and procurement/spend performance (relative and absolute) that only category-specific insights can provide. Users have access to customized views displaying key metrics informed by line-item analysis and usage data for targeted categories. This new product feature solves procurement’s biggest data challenge by engaging with category suppliers to get “perfect” operational and financial data.
“SpendHQ Category Management is the other side of spend analysis – the external, bottom-up data – which is missing from other solutions to make the ‘internal’ top-down data more valuable to drive control, context and impact for the business,” says Spend Matters Founder Jason Busch.
Specific differentiators include:
- Pre-built dashboards designed by category experts for common categories with the ability to develop custom dashboards for unique areas of spend
- Powerful drill-down capabilities that deliver unparalleled visibility into category spend
- Analytics and cost breakdowns focused on providing users with actionable insights
SpendHQ Category Management delivers easy-to-use visualizations with actionable data and insights to capture full value from sourcing. Supported by procurement subject matter experts with deep category expertise, this new module enables strategic execution unmatched by similar solutions in the spend intelligence space.
SpendHQ CEO Scott Macfee says, “The SpendHQ Category Management solution came about from a desire to infuse more of our in-house procurement expertise and data from supplier relationships into our platform to deliver more enhanced insights on a category level. Everything we hear from the market is showing how valuable this strategic understanding is. Our team is excited to launch this new addition to our solution as we continue to refine the space of spend analytics.”
SpendHQ is a procurement analysis solution that provides rapid, accurate, and detailed visibility into enterprise spend data. This full-service SaaS spend analytics solution delivers actionable insight for sourcing and procurement professionals. SpendHQ has been recognized as an industry leader by Spend Matters’ SolutionMap, Ardent Partners’ Key Solution Providers, and Procurement Leaders’ World Procurement Awards.
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