Spend Analytics
Spend Analytics
Spend Visibility: All the data you care about, right at your fingertips.
Spend Analytics is the process of aggregating, cleansing, classifying, and analyzing corporate purchasing or spend data to reduce procurement costs, improve efficiency, and monitor supplier compliance. On average, corporate procurement executives have visibility of only fifty percent of their overall spend.
Spend Analytics help organizations optimize their supply side performance by integrating data from across the enterprise, thereby enabling executives, managers, and frontline employees to make more informed and actionable decisions.
Spend Analytics is the linchpin of spend management. Spend Analytics enables spend visibility, which in turn drives insights and supports the right decisions at every stage of the spend management process.
Once a detailed spend analysis is complete, the available data allows companies to drive profitability, as well as monitor ongoing performance and risk.
This includes
- Improving processes and managing spend
- Quantifying and delivering savings
- Managing supplier relationships, recovering over-payments and managing risk.
MindStream Analytics' consultants are experts in implementing analytical solutions. We help companies make sense of complex data, allowing the organization to make smarter business decisions while gaining deeper levels of understanding and insights about their business.
Contact MindStream Analytics
Fill out the form below to find out how MindStream Analytics can help your company gain spend visibility.
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About Us
MindStream Analytics is a leading consulting firm focused on helping clients improve business understanding and decision making. With years of experience in the analytics and Business Performance Management area, MindStream offers services ranging from software selection and implementation to best practices for financial planning.
