Spend Analysis Solution
Spend analysis and getting your spend together has been really hard. It doesn’t need to be…
Businesses have a challenge: Their spend data is a mess and hard to consolidate into the right classifications. That makes it very hard or time-consuming to get a useful, holistic view of their spend across all platforms. Without a true picture of your total spend cube, you’re missing out on more than just cost savings. It’s hurting your procurement strategy. Your spend data analysis solution should be helping you drive negotiations, support your ESG goals, and so much more. The good news? SpendHQ has a proven way to solve this for our customers — quickly and easily, with far less burden on your teams than other approaches.
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 intelligence 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, S2Ps 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 the right 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
You need easy spend analytics. SpendHQ would like to show you our approach and solution.
Getting Visibility into Your Spend Cube with Spend Data Analysis
With analytics giving you the spend intelligence you need, 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
Built by experts in spend data categorization and sourcing management, SpendHQ is the spend intelligence solution that provides the rapid, accurate, and detailed visibility into enterprise spend data that you need.
We use an AI-enabled process to solve the spend data classification, therefore significantly reducing the burden on your teams and shortening your time-to-value. We give you the spend data taxonomy you need, but one also built on best practice to give you trusted spend insights.
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. SpendHQ changes the game of spend analytics by making it only a few clicks to get actionable insights in our SaaS app, with your own data now in great shape.
At the heart: Our deep procurement expertise and experience gained from working with the over 350 leading organizations and over $7 trillion in spend managed.
Spend Analysis and Intelligence Starts with Your Data…
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. 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.
With over $1T in average annual spend analyzed, $7T 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.
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.