Spend Management Software
Transparency is priceless
Find a better way to spend
Managing end-to-end procurement.
The Procurement team has matured way beyond a cost control centre. They have a strategic role to play in ensuring the suppliers you work with are right for your business, from getting the best value for money, to shared economic, social and governance value (ESG). No longer is it just about what you spend, it’s also about how you spend.
Advanced provides your organisation with effective tools to positively impact your environment, your people, and your business value through effective spend and supplier management solutions.
Challenges in the world of spend management
CHALLENGES
-
Environmental, social and governance goals
Meeting your ESG goals can only occur if you have full visibility of how your suppliers contribute to your organisation’s overall ratings.
Did you know?
31% of respondents in Advanced’s 2022 Annual Trends survey say they are working with suppliers to reduced their carbon footprint throughout the supply chain.
With a tool to categorise your suppliers, your procurement team can make well-informed choices around purchasing products and services that are better for the planet, your local community, and your stakeholders.
Our Solution:
-
Changes to legislation and compliance
This isn’t optional – spend management is critical to ensuring compliance across an organisation. New legislation regarding financial transparency and sustainability is being introduced globally. Across Europe we have the Corporate Sustainability Reporting Directive, in the UK we have the Environmental Act and Plastic Packaging Tax - investors are also increasingly calling for companies to reflect climate-related risks in their financial results.
You need to know where you’re spending money and who you’re spending it with.
Our Solution:
-
Rising inflation and cost reductions
With inflation reaching a 30-year high, pressures on spend vs cost are increasing. Forecasting and planning is vital to ensure the books remain balanced.
Understanding the variables within contract commitments are an important element of understanding a rising cost base. It may prompt different procurement decisions - but only if you have the insight to be proactive.
It’s not always about reducing costs, but ensuring you work with approved suppliers to ensure you’re achieving value for money.
Our Solution:
-
Supervised expenditure
Organisations are facing high levels of uncontrolled maverick spending among employees. It makes managing how people spend, and who they spend with, increasingly difficult and time consuming. Enable strategic spend planning within your organisation with Advanced.
Our Solution:
-
Supply Chain Complexity
We are all very familiar with the disruption and the impact on global supply chain due socioenvironmental and geopolitical factors, including shifts in consumer behaviours. Providing transparency around what your organisation needs, current stock availability and what your consumers need, provides you with the power effectively manage your supplier chain and remain dynamic in sourcing – whether this is choosing a more local supplier or spreading risk with multiple suppliers.
Our Solution:
-
Back-office efficiency and data visibility
Back-office functions such as manual document processing or checking data results in many waisted hours and tedious work for Accounts Payable, Sales Operations or Logistics teams.
What if the hours spent chasing through invoices, trying to match them with orders, dealing with mismatches and disgruntled suppliers could be better spent?
What if there is a solution that would do this automatically and could guarantee processing without errors so you could fully trust the data in your back-office systems?
Our Solution:
Supplier Management
Spend Management Software
SOLUTIONS
ADVANCED SUPPLIER MANAGEMENT
Supplier Management
Enables doing business with suppliers faster, simpler, and more transparent.
ADVANCED CONTRACT MANAGEMENT
Contract Management
Puts you in the driving seat of your contract negotiations by providing you with all the tools you need in one centralised location.
ADVANCED MARKETPLACE
Procurement Management
Helping bring spend under control, providing users with a chosen selection of suppliers to reduce rogue spending.
ADVANCED DATA AUTOMATION
Data Automation
Giving the power to extract, validate and transform data from documents. With no errors. Every time. Without fail.
30k+
products featured
on Advanced Marketplace
100%
invoice match accuracy,
guaranteed
81%
of businesses say supplier relationships
are important to their organisation
CUSTOMERS
Who succeeds with us
A rich, diverse customer base from charities to distribution and logistics
"Since we started using Advanced Marketplace as our procurement solution, our team have been able to save an average of 3,300 hours a year on admin time."
— Tim Brannon, Director of Procurement
"Within just 3 months, 65% of targeted invoices are already being sent electronically and received directly into the processing environment within a couple of minutes of the supplier sending it."
— Finance Assistant Director, NHS Foundation Trust
"The implementation of the solution has given our users an ease of online purchasing with set prices, rich catalogue data, and selected suppliers – resulting in a friendly, low-cost marketplace."
— John Feraday, Head of Procurement
"Introducing Advanced Marketplace has significantly reduced the transactional costs of ordering and paying invoices for items procured through the system."
— Ian Jarvey, Deputy Head of Procurement
