Spend Category Insights – Complete & Trusted
Procurement and spend category stakeholders collaborate and align better than ever, thanks to a comprehensive and accessible view of insights that reduce risk and drive savings, value, and compliance.
Closing the Procurement Relationship Gap
It can be challenging to get a complete, accurate, and timely picture of spend in a category and its subcategories. Without that transparency and understanding, procurement and spend owners don’t have the best data to make decisions. Opportunities for savings remain undetected or without buy-in. Lack of visibility may unintentionally reduce risk. Teams may struggle from a lack of trust, and the business ultimately suffers.
Actionable Category Spend Intelligence
Procurement teams use our Spend Intelligence software solution to improve collaboration with spend category stakeholders, to get more spend under management and in compliance – but also to work together to identify new value-creation opportunities previously not discovered. You get efficient, easy-to-understand spend insights that enhance category management, financial objectives, and non-financial/ESG goals as well.
The Value of Exceptional Spend Category Insights
Best-in-class spend data solution provides the right details at the right time for higher-impact decisions across direct and indirect categories.
Quickly forecast savings and plan future projects to tackle rogue spend based on in-app benchmarks at the sub-category level.
More Spend Managed
Average of 3X increase in spend compliance reduces costs and risk. Monitor category and subcategory compliance rates.
Provide transparency to category stakeholders via shared reports. Together build strategic spend roadmaps based on insights.
Immediately launch and track your category’s sourcing initiatives as you discover new insights and make data-driven decisions.
Key Features of Category Insights
Spend Data Categorization
Our data process captures 97-99% of each category’s spend data across multiple disparate systems and applies best-of-breed classification to meet your needs.
View overall status and drill into subcategories. Analyze and compare by time period, location, and other attributes you specify. Share web reports with stakeholders.
Track Suppliers, Compliance, Tail Spend
Quickly view compliance rate for each subcategory based on preferred supplier use. Create watchlists. Identify spend fragmentation for consolidation.
Convert Insights to New Projects
Create new sourcing projects from a category insight. Send to our performance management solution and integrate with your e-sourcing tool to launch the event.
Customer statement on G2 independent software review website
Lack of visibility is the primary problem we solved for. This also helped us consolidate several areas of indirect spend and create some leverage with our key suppliers.
Get a Demo of Spend Intelligence
Learn more about our Spend Intelligence solution for its best-in-class spend data processing approach and easy-to-use interface for accessing and generating insights, benchmarks, reporting, and strategic roadmaps.