Spend Analysis Solution
See where spend analytics can take you.
Businesses have a challenge – and it’s not just that their spend data is a mess. They’re lacking a holistic view of their spend across all platforms. Without a true view into your total spend cube, you’re missing out on more than just cost savings. Your spend data analysis solution should be helping you drive negotiations, support your ESG goals, and so much more. Find out how we can help. Watch the video below.
The Truth About Spend Data Analysis
You might think that you already have the spend visibility you need — but the reality is that most companies only have a limited view into a mere percentage of their total spend data. You need the full picture. Your spend analysis solution should give you all the insight you need into your spend cube, no matter where that data currently lives.
You’re often working across multiple systems like ERPs, P-Cards, P2Ps and more that aren’t connected to each other. Typically, there’s not only duplicate data across your systems — there’s duplicate data within one system alone. Gaining an accurate view across all of your systems feels impossible.
With your spend cube all tangled up, and your spend data telling five different (if not more!) stories, proving cost savings is nearly impossible. And, in a world where every dollar matters when negotiating with suppliers, not having the correct data stops you from earning your seat at the table.
Without a spend data analysis solution, you’re stuck with:
- Manual processes and incomplete spreadsheets
- Fragmented data
- Siloed views
- Lack of vendor compliance
- No way to verify and track supplier diversity
- Overestimation or underestimation of spend volume
Your spend cube needs more, and so do you. You’ve landed in the right place with experts who can help guide and support you on your spend analytics journey.
Getting Visibility into Your Spend Cube with Spend Data Analysis
With spend analytics, you gain:
- 3x higher compliance rates
- 87%+ spend under management compared to the average 58%
- 21% higher chance to leverage your spend data to identify sourcing opportunities
Spend data analytics solutions should give you spend visibility across every system, all in one place. Built by spend cube experts for spend cube experts, SpendHQ is the spend analysis solution that provides rapid, accurate, and detailed visibility into enterprise spend data that you need.
The core of SpendHQ is providing clarity and context to your messy spend data, resulting in confident strategic decision making and bottom-line savings across your business. Powered by AI and machine learning, SpendHQ aims to change the game of spend analytics through actionable insights derived from our deep procurement expertise and experience gained from working with the over 300 leading organizations leveraging our platform.
You’re being tasked with finding ways to both scale and save, and your spend cube is key to helping you do it. Unfortunately, you’re drowning in data and struggling to identify actionable insights to build a spend roadmap.
You and your team need more time in the day, better support, and a clearer view into your spend.
Spend analysis delivers the intelligence you need to scale, drive negotiations, and track both savings and supplier diversity.
Spend Data Analysis Starts with Your Spend Data…
SpendHQ goes beyond integrating your spend data from across all your systems. We ensure you’re working from clean, deduped data. It’s still your data – only better
You know you can get more from your spend data – but getting started isn’t always easy. There are time constrictions, other priorities, and more preventing you from realizing the insights and the subsequent savings you can realize from a deeper dive into your data.
Your spend data can do bigger things. SpendHQ helps you get there.
With over $1T in average annual spend analyzed, $6T in total spend analyzed, and $3T spend in our data warehouse utilized for fuzzy matching in the categorization/normalization process, your spend cube couldn’t be in better hands.
Learn more about our data process.
… And Results in Much More
Track not only your spend with your diverse suppliers, but also whether your diverse suppliers actually meet diversity requirements. Aggregated from all major national, regional, and state certification sources, the SpendHQ Supplier Diversity spend data analytics solution is backed by one of the largest databases of diverse suppliers.
Remove uncertainty with verifiable sources for every diversity classification.
Stay current on certification status with the most up-to-date information.
Track the health of your diversity program by knowing exactly which diverse suppliers you’re doing business with today.
Category Management
View your spend cube from both top-down and bottom-up views. SpendHQ Category Management blends internal and external data to provide you with granular data to manage and optimize critical spend categories.
- Track sourcing savings and mitigate savings leakage.
- Uncover incremental savings across the board.
- Identify incremental savings post-sourcing against unique category analytics and KPIs
Preferred Suppliers and Document Management
Track, update, and manage your preferred suppliers within your spend data analysis dashboards. Gain the upper hand in negotiations by tying your spend data directly to your contracts and other relevant supplier documents and by setting alerts for renewals and other deadlines.
With SpendHQ Document Management, you have clear and actionable insight into your vendor contracts and agreements to maximize your strategic sourcing leverage and create measurable savings.
- View your contract spend and total value by category and subcategory.
- Filter your views to drill into a specific subcategory, or analyze your entire contract spend from a high-level overview.
Spend Strategy Support
With SpendHQ Strategy, you can build opportunity and savings roadmaps you’ve never imagined. See your spend cube in a whole new way.
- Identify opportunities and plan for future waves of projects using spend benchmarks from the experts.
- Compare your spend and savings for hundreds of categories with the latest market intelligence.
Prove Your Cost-Savings with Spend Data Analysis
SpendHQ delivers the spend intelligence you need to scale, spend, and save. Whether you need to drive strategies to impact your bottom-line, come out ahead on your supplier negotiations, or support your ESG initiatives, spend data analysis helps you with the single consolidated and cleansed view into your spend cube.
Talk to an expert today.
Ready to See Our Solution?
Schedule a demonstration and see what SpendHQ can do for your organization’s spend challenges.
