SpendHQ Launches New Document Management Module for Enhanced Spend Analytics
Atlanta, June 2nd, 2021 – Industry leading spend analytics software provider SpendHQ releases its newest software addition with its Document Management module, delivering a content management system for users to store documents and contracts, associate relevant files with suppliers or categories, and manage contract expiration. This release reflects the first of many upcoming capabilities that will dramatically advance procurement organizations’ ability to track and manage their spend.
The newly released Document Management module serves as a document and contract repository for organizations managing their spend. This enables procurement professionals to connect their spend data with their relevant contracts or suppliers, identify gaps in contract coverage, manage contract expirations and renegotiations, and much more.
SpendHQ administrators will be able to control contract access for specific users based on multiple dimensions, such as by category, supplier, business unit, or location. In addition, procurement organizations are now able to link any type of document, such as a Request for Proposal (RFP), to the relevant entity within their spend data in order to support knowledge sharing among their team and to have ready access to supplier bids, for example, while preparing for supplier reviews.
“We developed the new SpendHQ Document Management module to enable Procurement professionals to manage contracts and documents that reflects how their spend is measured,” said Robert Murphy, SpendHQ Director of Product. “We hear from the market about a need to have all supplier contracts, spend data and spend content in one place. Clients want to go to one place so they can analyze the important factors to make strategic decisions especially when it came time to renegotiate expiring contracts. We’re constantly listening to what will make SpendHQ a more valuable analytics tool for our clients, and the Document Management module is just one of many releases we have planned to drive more value and enable more cost savings realizations for our users.”
Look for more releases as SpendHQ continues to innovate its solution to deliver capabilities to procurement leaders that do not exist in the market today.
SpendHQ is a procurement analysis solution that provides rapid, accurate, and detailed visibility into enterprise spend data. This full-service SaaS spend analytics solution delivers actionable insight for sourcing and procurement professionals. SpendHQ has been recognized as an industry leader by Spend Matters’ SolutionMap, Ardent Partners’ Key Solution Providers, and Procurement Leaders’ World Procurement Awards.