Spend Analysis: A Key Value Lever for Procurement Organizations
A comprehensive spend analysis strategy can identify opportunities for savings, drive negotiation strategies, support ESG goals, and establish compliance protocols. Gaining visibility into all of your spend is difficult and most organizations don’t have a clear or accurate picture of their total spend profile.
Gain Insight from your Spend Data to Unlock Competitive Advantages
Implementing Ivalua’s Spend Analysis solution is a critical first step to empower procurement teams with relevant data and insights to identify savings opportunities, understand purchasing patterns, manage risk, and drive overall value to the organization.
Ready for a More Accurate, Timely, and Comprehensive Spend Analysis?
A Powerful Tool for Strategic Sourcing
Analyze Spend
- Aggregate data from AP vouchers, invoices, P-Card data, travel, and others
- Import spend in native formats covering data sources
Classify Data On-Demand
- Import and classify data on-demand
- Utilize standard or custom spend taxonomies
- Refine classification rules and refresh classifications immediately
Spend Classification Visibility
- Maintain complete control and visibility over classification rules
- Add and refine classification rules with a comprehensive toolkit and simple UI
With the right team and the right technology, true digital transformation is possible. Ivalua’s platform empowered us to realize virtually 100% paperless procurement and account payable processes. The ease of use and supplier friendly model delivered rapid value, and the flexibility helped bring our talent’s best ideas to life to build a competitive advantage.
William Mertz
Vice President, Supply Chain
CACI
A Unified Platform for All Spend
PLATFORM
Analytics
Workflow
Integration
AI
Collaboration
Design Mode
Additional Modules
Accurate Classifications On Demand
Classify or Refresh Data to Meet your Business Needs
- Powerful and intuitive classification engine
- Classification and refresh cycles established by the business
- Unparalleled performance with the largest data sets
Data Extraction, Transformation, and Loading
Integrate and Analyze all Source of Spend Data
- Integrated ETL capabilities to collect data from many systems
- Extract spend data from other systems in any format
- Map data loads and schedule data imports
Transparency and Control
Review and Improve Classification Rules to Ensure Accuracy
- Complete transparency and visibility of classification rules
- Intuitive UI to manage and refine rules
- Recommended actions and clues to improve classification
Opportunity Identification
Identify, Quantify, and Prioritize Opportunities
- Leverage a library of pre-packaged spend reports
- Create new analyses on-demand to match business needs
- Initiate actions directly from reports and analyses
Related Resources
Spend Analysis Data Sheet
Understand Your Spend & Uncover Opportunities
Customer Story
CACI’s Digital Transformation: Virtually 100% Paperless AP and Procurement