Spend Analytics

Spend360 uses artificial (and a little human) intelligence to remove the traditional barriers to correctly analysing, classifying and enriching your spend data, so as to provide actionable data to multiple stakeholders.

What Does It Do?

  • The use of Artificial (and a little human) Intelligence for Spend Analysis with the Spend360 solution provides insight into your complete spend, of all types, from all sources (not just ERP), with all of your suppliers – not just the top ones.
  • This complete and accurate view can then be used to underpin key analysis, sourcing, or risk and relationship  management activities.
  • Using spend analysis to underpin these activities results directly in cost reduction and cash-generation/preservation.
  • The benefits of Spend360’s complete view, and the actions that arise from it, accrue to both Finance and Procurement functions and are measurable at balance sheet level.
  • Spend360 has come from an understanding of the requirements of users, and has been built to cater for their needs. All of our unique, complex technology has been hidden and only exist to deliver business benefit to the desktop.

How Does It Do It?

  • Spend360 can take data in ANY combination, from ANY source, in ANY format, whether internal or external. Typically we see AP, PO and Supplier Master data sets from multiple IT systems, but can also include bespoke taxonomies, GL codes, expense details, PCard data and other data, as well as data from external sources such as credit reference, parent child relationships etc.
  • We then classify that data against the UNSPSC taxonomy, or more usually your own category structure, to give a very accurate, very detailed, very actionable view on supplier spend using different techniques and perspectives for different Stakeholders in the business.
  • The data is also enriched with external parent child relationships and credit details from external agencies.
  • Files are then made available via the free viewer to any desktop for point and click, dynamically changing information, with supporting detail, for multiple Stakeholders, Geographies, Organisational Structures, Taxonomies, Languages, Currencies etc

Why Is That Useful?

  • Spend360 addresses the challenges of accurate and repeatable SpendAnalysis by breaking down the barriers to collecting, enriching, classifying and reporting spend data.This means that users can use the complete spend profile to drive savings to the bottom line in a way that suits them.
  • Spend360 uses a unique artificial intelligence approach to support multiple Stakeholders, taxonomies, languages, currencies and environments using both internal and external data sources.
  • Spend360 takes the complete profile, normalises, enriches and classifies it – effectively reducing the need for costly, inefficient and time consuming rules-based integration and transformation of raw data.
  • It enriches your data, driving up the quality, and accurately classifying your spend to your own hierarchy and/or UNSPSC ensures data represents spend profiles as you want them, maximising benefits for users, departments, divisions and complete enterprises.
  • It provides flexibility as to how source data can be collected (from low-tech manual to high-tech automated) and classified, removes traditional barriers to adoption and dramatically reduces time to benefit.
  • In addition to providing many out-of-the-box reports, Spend360 provides powerful customisation for power-users to create their own reports, as well as the ability to create email, PDF and Powerpoint output to share and present to other parts of the organisation. The standard reports provide Procurement and Finance perspectives on the spend data.
  • Spend360 contains logic and expertise, to provide for different industry and category requirements, that automates many of the traditional tasks associated with answering seemingly simple questions about spend.
  • Spend360 technology provides repeatable, low cost outputs that are more accurate, more detailed and more quickly available than traditional, in-house approaches.