Spend Analysis Solution
SpendHQ provides rapid, accurate and detailed visibility into enterprise spend data.
About Spend Analysis
Spend Analytics Solution That
Drives Action for Procurement.
Strategic sourcing teams around the world rely on our spend analytics software to provide detailed spend analytics that inspires procurement insights. SpendHQ will change the way you analyze your spend and literally show you the way toward a strategic sourcing strategy that creates measurable savings.
Implementing a recurring spend visibility process is the foundation of driving a long-term cost optimization strategy. Despite signiﬁcant investments in technology solutions, research shows that an organization’s procurement function—if it has one—frequently lacks the type of high-quality, sourcing-caliber data and spend analytics necessary to do its job strategically. For procurement, credibility and influence are everything. It is easier to define strategy and lead change when you have total confidence.
SpendHQ is a full-service solution that combines procurement-focused spend analysis services with an award-winning SaaS application that enables clear insight into your spend so you can confidently drive savings. Imagine a powerful spend analytics solution like this combined with the expertise of more than 100 procurement specialists – people who understand your goals and pain points. SpendHQ customers are serious about making a change, challenging the status quo, achieving real results for their companies and achieving them at a speed never before possible.
SpendHQ is backed by a heritage of more than 5,000 global sourcing and procurement projects. Our sourcing experts help you interpret your data and identify new savings opportunities with each refresh.
Procurement experts perform the necessary “human logic” to ensure 97% spend categorization. These are people with the same level of sourcing knowledge as a procurement executive—not just outsourced “hired hands.”
Ease of Use
SpendHQ works exactly the way you would expect it to. Our easy-to-use interface allows users to slice and dice your data the way you want to see it, enabling you to create and share reports with multiple layers of analytics.
SpendHQ delivers best-in-class taxonomy, customized to your unique business needs. Our sourcing experts work with your team to develop a spend taxonomy that reflects a true “sourcing-level” category structure.
Navigate your spend with Spend Visibility from SpendHQ. Click and browse through an interactive series of dashboards representing your consolidated spend data to instantly uncover savings opportunities.
- Review high-level reporting on spend trends by normalized category, and quickly analyze your spend breakout by category, vendor or other custom dimension.
- Use the SpendHQ proprietary Power Filter to slice and dice your data the way you want to see it. Areas of heavy spend are clearly represented, giving you the insight you need to drive sourcing discussions.
SpendHQ Contract Visibility enables 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 sub-category.
- Filter your views to drill into a specific subcategory, or analyze your entire contract spend from a high-level overview.
With SpendHQ Category Management, analyze major sourcing categories at an in-depth level to monitor compliance and pricing accuracy. Empower your procurement professionals with instant access to the information they need to uncover maverick spend by strategic category.
- Instantly recognize the number of times your procurement team paid too much for a given item number.
- Easily identify noncompliant spend trends within a given timeframe from a high level or down to line item detail.
SpendHQ has partnered with InsideView for the Vendor Information Management module. This module provides users access to detailed and current information on vendors, enabling users to track compliance, research sourcing opportunities and understand vendor capabilities.
- Access highly detailed and current supplier information powered by InsideView APIs.
- View vendor financial information, explore vendors’ competitors to identify potential candidates for sourcing opportunities, learn about vendor parent-child relationships to create sourcing leverage and much more.
Track supplier diversity spending with enhanced reports detailing supplier diversity data. Data is aggregated from all major national, state and regional certification sources to compile one of the largest databases of diverse suppliers.
- Remove uncertainty with verifiable sources for every diversity classification.
- Stay current on certification status with information updated with each refresh.
After benchmarking spend analytics tools used across all industries, the American Red Cross selected SpendHQ based on our evaluation of their practitioner-built tool and practical approach. Implementation has been smooth, and early results are encouraging to date. At this point, we believe the Red Cross will achieve its targeted 7X ROI on the cost of this tool.
The intuitive interface and graphical nature of SpendHQ made it an easy choice for us. We looked at several other tools and none of them measured up to SpendHQ in terms of ease of use or quality of data.
Today, any spend analysis discussion we have must originate from the SpendHQ platform, establishing the solution as a single source of truth.
SpendHQ opened up entirely new views into our spend. The improved visibility helps us in negotiation preparation, RFP development, and strategic sourcing pipeline development.
Ready to See Our Solution?
Schedule a demonstration and see what SpendHQ can do for your organization’s spend challenges.