Your Best Spend Intelligence Starts With Trusted Data
It’s historically been a major workload burden to get a complete accurate view of enterprise spend – to achieve confidence in strategic decisions and proactive planning.
Get Your Spend Data Together
Why is spend analytics so hard to get right? For starters, the data is in different systems and formats. You need to integrate historic spend, supplier info, contracts, and often external supplier data. Once integrated, spend data must be made useful to Procurement. Transforming data from existing sources and ERP systems involves merging, normalizing, and categorizing based on the right taxonomy, and often enriching the data. It’s not easy to gather and prepare one time, let alone on an ongoing basis.
You Focus on the Insights. We Worry About the Data.
We help you keep it simple. Our Spend Intelligence solution takes your raw spend data through our market-proven data optimization process to ensure greater than 97% of spend is classified to your custom taxonomy, the way your procurement needs to use it. Based on our 20+ year history with global companies, our approach leverages $7 trillion in spend in our data warehouse and hundreds of millions of vendor records we’ve categorized over the years to help accurately classify and benchmark your data. A more complete, accurate picture is ready for your team any time within our Spend Intelligence app.
Our Industry-Proven Spend Data Process
Consolidate & Normalize
We consolidate raw spend data from all your sources, including Accounts Payable, Expense Management, Enterprise Resource Planning, P-Cards, and every other source of non-payroll spend. Our app can consume data via batch imports of flat files or through direct connections that allow for automatic refreshes. We then normalize redundant supplier names so that insights about spend with suppliers is reliable.
Categorize
Once we normalize your vendors, our AI-enabled process categorizes suppliers and transactions into a custom taxonomy for your organization, built from our proprietary framework. We guarantee a minimum of 97% enterprise spend classified. The result is a procurement-ready accurate and rapid classification of spend, ready for analysis.
Enrich
We add value to the data classification process by allowing for enrichment of your normalized supplier data, which enables benchmarking and other enhanced insights. We can ingest data via third-party integrations to improve your Environmental, Social and Governance (ESG) tracking and benchmarking of diverse suppliers, supplier risk, and emission estimations.
Validate
Our spend solution implementation experts work with your team to review and validate the spend data before making it available for analysis and reporting in our SaaS-based spend intelligence app. During this step, we’ll confirm categorization. Your data can be refreshed regularly to ensure accurate insights that align with your current business needs.
Key Benefits of Our Spend Data Process
Spend Data Processing: Customer Cases We’ve Seen
We make the data part easy, so you can focus on putting your insights to use.
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Global Consolidation
Multibillion-dollar holding company with 60 data files and 23 currencies.
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One Supplier’s Redundancy
$1.5 billion public client with 19 spelling variants for FedEx charged to 26 GL codes.
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Normalizing All Supplier Data
Cleansed 22,437 original vendors names to 14,138 normalized to improve classification and enrichment.
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Massive Supply Chains
Customer data across multiple systems involved 300,000 vendors to be cleansed, normalized, and classified.
Customer statement on G2 independent software review website
The implementation was well planned. From the start their team helped us collect, normalize, and categorize our data from multiple sources. Everything was then automated, making refreshes a cinch.
Get a Demo of Spend Intelligence
Learn more about our spend data processing solution and then see how all your spend insights comes together in our easy-to-use app.
