Spend Analytics You Can Act On

SpendHQ’s AI-powered solution takes Procurement beyond spend analytics and delivers a full set of modern spend intelligence features that transform Procurement’s level of impact:

• Data Processing
• Category Insights
• Supplier and Contract Insights
• Compliance
• Strategy and Benchmarks
• Analytics and Reporting
• ESG

Our spend data processing couldn’t be any simpler. The solution takes all your messy, raw spend data through our market-leading process to ensure greater than 97% of spend is categorized. Based on our 20+ year history of enabling spend visibility for global companies, our approach leverages artificial intelligence and machine learning (AI/ML) to optimize your data, including normalizing vendor names and classifying to sourcing-level sub-categories based on the $7 trillion in spend in our global data warehouse. While our solution handles the hard data work, you spend more time discovering and acting on spend insights.

Use our Spend Intelligence to make better decisions in collaboration with category owners, which is helped when everyone can access and understand a complete, accurate view of spend at each category and sub-category level. Easily drill-down into spend, classified to your sourcing-level taxonomy. Review category insights such as spend under management, compliance tracking, fragmentation, and tail spend. Monitor trends across different timeframes, as defined by you. Compare spend data across a variety of dimensions.

Establish proactive supplier management and be better prepared for negotiations by monitoring changes in your supply base, such as reviewing new, diverse, or favorited suppliers. Watch for anomalies in your supplier spend through watchlists that check for major changes.Get an overall snapshot of supplier financial health. Monitor total and percentage of spend under contract and get alerts prior to expirations and auto-renewals.

Gain crucial visibility to quantify the cost of rogue spend, the percentage of spend procurement is impacting, and the biggest areas of savings leakage. Drill down into insights that help category managers understand the expected benefits of partnering with procurement to get more spend under management and strategically sourced. Easily define and track metrics for your preferred supplier program and savings KPIs

Make sure Procurement is a strategic business partner, thanks to trusted data and roadmaps for spend management and strategic sourcing. Collaboratively plan your next procurement focus areas and priorities, leveraging market benchmarks by category with estimated savings–automatically provided inside the Spend Intelligence app. New approved projects can then be immediately launched with e-sourcing and their performance tracked in our procurement pipeline tracker.

Spend analytics reaches a new level of speed, ease of use, and flexibility with robust reporting and visibility features within SpendHQ’s Spend Intelligence solution. Each time you refresh your spend data, you get automated insights about areas that increased or decreased, letting you quickly decide where you want to drill down and focus further. Easily design and share custom dashboards, track against KPIs, and quickly generate custom reports.

Help Procurement take a leadership role in supporting business commitments and compliance to ESG and non-financial performance goals. Get the insights to prioritize spend decisions for supplier diversity and greenhouse gas reductions, thanks to data enrichment, benchmarking, and reporting within our spend intelligence solution. PromoteESG spend data transparency, by sharing knowledge with finance and business stakeholders via visual web reports, dashboards, and data exports.