SpendHQ Adds Procurement Performance Management to SaaS-based Spend Intelligence Platform
For procurement teams, what’s better than gaining accurate and actionable spend intelligence in real-time? Using that intelligence to drive and demonstrate value to stakeholders. With SpendHQ, now you can do both – without toggling between service providers or platforms or wrangling your data from one system to another.
SpendHQ formally merged our sister organization, Per Angusta, under the SpendHQ brand. As a result, we are pleased to offer our flagship SaaS-based procurement software solutions – Spend Intelligence and the Procurement Performance Management (PPM) products, respectively – integrated together on the SpendHQ platform.
Now, procurement teams can leverage the combined power of SpendHQ’s Spend Intelligence and PPM products to apply a data-first approach to procurement operations. They can optimize business processes and decisions, such as sourcing, procurement, and awarding vendor contracts, and share the value creation and savings to Finance, and the greater organization.
Spend Intelligence and Procurement Performance Management – Best-in-Class Enablers, Together
SpendHQ’s Spend Intelligence and PPM solutions go hand-in-glove to drive best-in-class procurement performance. After all, Spend Intelligence provides procurement teams with refined insights to make more informed decisions, optimize business processes, drive financial and non-financial performance, and show their value across the wider organization.
Our SaaS–based Spend Intelligence solution automates the entire spend analysis process – especially the data management process that challenges most procurement teams today. We handle it all – from data collection, cleansing, categorization, standardization, enrichment, to finally analysis. As a result, Spend Intelligence:
- Drives visibility into savings opportunities and spend behaviors enterprise-wide – identified realized savings, spend under management, off-contract/maverick spend;
- Enables robust category management and spend optimization by identifying redundancies, opportunities to consolidate spend categories from multiple business units and suppliers under one contact with fewer or even a single preferred supplier; and
- Enables procurement to transition from a pure cost center to a value driver by identifying and engineering efficiencies, avoiding or mitigating financial and other risks, preserving profit margins, and boosting the company’s bottom line.
SpendHQ’s Spend Intelligence solution also fuels our Procurement Performance Management solution with distilled intelligence that supports risk mitigation and compliance to drive financial and non-financial value to the organization.
We’ve developed our proven, SaaS-based PPM solution to take a data-driven approach to driving procurement performance beyond traditional financial savings metrics. Like our Spend Intelligence solution, but on a broader scale, our Procurement Performance Management solution:
- Centralizes and tracks procurement projects – process improvement, efficiency improvements, etc. – from across the organization under one platform for easy control and oversight;
- Enables procurement to show top-line, financial performance to stakeholders – i.e., cost avoidance, savings realization, revenue, and profit – which can help to “sell” procurement’s value to the rest of the organization and underscore that its no longer a pure cost center;
- Provides a window into supplier performance and risk – which can help to identify areas for growth, improvement, and mitigation, and can ultimately drive closer collaboration with your supplier base; and
- A hub for tracking ESG programs, such as greenhouse gas emissions reductions, supplier diversity commitments, civil and human rights protections, and progress towards meeting those goals; as well as applicable ESG laws and regulations with which the larger organization must comply.
The SpendHQ platform now features Spend Intelligence and Procurement Performance Management to provide our customers with a unique and logical marriage of two powerful procurement tools that have delivered immense value to our customers for more than a decade. Legacy Spend Intelligence and PPM customers have nothing to lose and everything to gain from this marriage, as the two solutions, integrated on one platform, illuminate opportunities to drive even more value for procurement teams and their organizations.
We are excited to share more about our integrated Spend Intelligence and PPM solutions, which is why in the coming weeks, we’re refreshing the SpendHQ website. Our roadmap and releases continue to evolve and enable procurement organizations to drive even more value and strategic conversations across the company. Be sure to check back and check in often for updates.