What is Spend Analysis?
Identify and prioritize savings opportunities, mitigate risk and ensure compliance with accurate, timely visibility into all spend data
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What is Spend Analysis?
Effective Spend Management starts with accurate, actionable information – spend visibility is the critical first step. Spend Analysis Software improves data quality and identifies valuable opportunities for you to gain insight into your business. It supports cost reduction initiatives that benefit your business long term using preferred suppliers.
Yet disparate data sources, missing or inaccurate classifications, duplicate supplier records with various spellings and a range of other issues remain a major obstacle at most companies. Ivalua Spend Analysis delivers the spend classification, supplier normalization and enrichment and reporting to address these issues. Gain control over your enterprise-wide spend data and empower your team with the insights they need to make more informed decisions,faster.
Discover Ivalua’s Spend Analysis Software
What are the Benefits of Spend Analytics?
- See exactly what you purchased and from which suppliers
- Quantify, validate and prioritize savings opportunities
- Power your strategic sourcing program with a robust sourcing pipeline
- Identify maverick spending
- Simplify procurement processes
- Track compliance and fraud
- Improve compliance and spending patterns
- Identify price variance and other “quick-hit” opportunities
Discover Ivalua Spend Analysis Software
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Accurate Classifications on Demand
Powerful classification engine to ensure accurate results. Get or update spend classifications whenever and as often as you want — no more spend classification by batch or via lengthy refresh cycles
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Complete Transparency
100% transparency into the classification process and results – see exactly how every line is classified
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Simple Data Extraction, Transformation & Loading
Integrated ETL capabilities take the hassle out of collecting data from your many systems. Extract data in any format, map it in Ivalua and schedule loading frequencies
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Opportunity Identification
Actionable insights to quickly identify, quantify and prioritize opportunities. Leverage pre-packaged reports or easily create a new analyses to view data however you want it, with powerful visualization capabilities. And great performance even with the largest data volumes to not keep you waiting
Advanced reporting and analytics available through internal reports that provide visibility on the entire supply chain and help provide direction on potential optimization opportunities.