SPEND ANALYTICS

Spend Analytics Software

Our Spend Analytics solution gives you greater visibility into spending habits and patterns across your organisation, and in turn optimises future spend in line with your business strategy.

 

 

 

 

 

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OVER 17 YEARS EXPERIENCE WORKING
WITH PROCUREMENT TEAMS

90% TRANSACTIONS MAPPED AT LINE
LEVEL USING ARTIFICIAL INTELLIGENCE

Understanding key issues

CHALLENGES

Data disparity

Disparate Purchase Order (PO), invoicing and spend data within different applications makes spend analysis time consuming – often requiring involvement from multiple business units.

Poor data classification

Accurate classification of PO, invoicing and contract data is critical to enabling the analysis of spend data – and therefore improving future sourcing and spend decisions. However, it’s a difficult exercise for Procurement teams to undertake.

No single view of spend

With multiple PO, invoicing and contract systems and databases, creating one single view of all spend and supplier data is a challenge for organisations.

Poor traceability 

If organisations are unable to understand where they are sourcing items from, it is harder to meet sector-specific initiatives, such as the desire to increase the use of local suppliers.

Overstretched workforce

With the need to do more with less, Procurement teams struggle to find the time to be strategic.

How our Spend Analytics software can help you

FEATURES & BENEFITS

  • Analysis and classification

    Spend Analytics allows organisations to understand their data – no matter where it resides – providing greater insight into spend.

    ERP compatibilityERP compatibility

    Analyse data from any ERP or procurement system​, at line level, so organisations can understand their spend on all systems.

    Classifications that suit Procurement teamsClassifications that suit Procurement teams

    Automatically-classified data​, with the ability to customise classifications, gives the clarity needed to analyse specific areas of spend.

    Reduce data silosReduce data silos

    Consolidate data stored in silos across the organisation into a clean, classified data set​ allowing for a more in-depth level of analysis.

    Customisable data setsCustomisable data sets

    Introduce custom data elements​, enabling Procurement teams to be more accurate when analysing their organisation’s spend.

  • Flexible reporting and analysis

    Our solution is simple to use, allowing procurement teams to spend less time worrying about running reports, and more time using the results to make better and more strategic decisions.

    Standard, out-of-the-box reportsStandard, out-of-the-box reports

    With Spend Analytics, organisations create standard reports instantly. There is no steep learning curve so understanding spend is fast and simple.

    Custom reports and dashboardsCustom reports and dashboards

    We understand that every organisation wants to analyse different areas of spend. Through fully customisable reports, we help procurement teams understand all areas of spending.

    Simple to use dashboardsSimple to use dashboards

    Our point and click interface, based on graphical dashboards, allows procurement teams to easily access and understand their data.

    The right data at the right timeThe right data at the right time

    Schedule reports, and email or download information on demand, increasing efficiencies within an organisation’s analytics processes.

  • Customised analysis and visibility

    Every organisation’s spending is different. We understand the need to analyse and control different areas of spending – and in a way that suits equally different procurement teams.

    Geographical analysisGeographical analysis

    Support local supplier sourcing by analysing spend at a geographical level . Match suppliers against the ONS Postcode database to provide geographical supplier analysis.

    Understand contract spendUnderstand contract spend

    Match spend against existing supplier contracts for improved contract compliance and better procurement efficiency.

    Reduce supplier riskReduce supplier risk

    Enhance supplier information from Companies House to access additional insights into supplier risk and performance, benefiting from a greater understanding of the supply chain..

  • Actionable analysis and insights

    Spend Analytics helps drive both tactical goals and longer term strategy, yielding instant results, while also putting in place plans to reach longer term business aspirations.

    Short termShort term

    Quick wins uncovered in analysis could include payment terms, purchase price variance, maverick spend, missed rebates, fraud and more.​

    Mid-termMid-term

    Analysis includes tail rationalisation, contract negotiation, spend avoidance, sourcing opportunities and specific interventions such as Scope 3 emissions reporting​.

    Long-rangeLong-range

    Analysis includes category management, supply chain risk, SRM, payments strategy and demand planning​.

    The right data at the right timeThe right data at the right time

    Schedule reports and email or download information on demand, increasing efficiencies within an organisation's analytics processes.

"The Trust is now in a much better position to support the financial challenges of the NHS today."

Kate Lakin, eProcurement Manager

“Since switching to Advanced, we have seen improvements in compliance, efficiency and cost savings. The take-up by academic staff has been excellent. In fact, far greater than we experienced previously.”

Anj Cooke, Head of Procurement

"The solution is a powerful purchasing tool for all staff, including researchers and academics, but also provides our procurement team with essential visibility and financial control over spend.”

Tim Brannon, Head of Procurement

  • Worcester Acute Hospitals NHS Trust
  • University of Bristol
  • University of Leeds

Explore our range of additional Spend Management solutions

Marketplace Software

CLOUD MARKETPLACE

Providing a business to business platform that enables buyers and suppliers to trade accurately and efficiently.

Learn more

Tender Management

TENDER MANAGEMENT

Providing Procurement Teams with clear visibility and high quality reporting of their sourcing process.

Learn more

Contract Management

CONTRACT MANAGEMENT

Manage contract deadlines, service-level agreements and contract usage levels with our simple and easy to use solution.

Learn more

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Dedicated Support Team

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24hr Customer Portal

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Regular Product Updates

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97% Project Delivery Score

Additional insights to help you transform

RESOURCES

  • Spend Management Solution Set Overview

    An overview of our complete Spend Management offering, from Cloud Marketplace to Spend Analytics.

    Read brochure
    an image associated withSpend Management Solution Set Overview Brochure

  • Spend Analytics

    An in-depth overview of our Spend Analytics solution.

    Brochure Read brochure

News & Opinions

MERGER AND ACQUISITION // 07-03-2022

Advanced grows its international footprint acquiring fastest growing Au…

by Advanced PR, Author

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