Spend Analytics Software

Spend Analytics Software: Control Spending and Drive Profits

Spend Analytics Software

Corporate procurement managers need visibility into their overall spend. Spend Analytics Software speeds the process of aggregating, cleansing, classifying, and analyzing corporate purchasing.

Many companies are looking to better control their cost of goods sold (COGS) and Operating Expenses (OPEX) visualize their spend data to reduce procurement costs, improve efficiency, and monitor supplier compliance. More and more companies turning to solutions such as Coupa, SpendHQ, ProcurePort, ProActis, and Procurify to control spending.

Spend Analytics Software is meant to help organizations like yours 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.

The discipline of Spend Analytics is the linchpin of spend management. It is equally important to have visibility to determine if vendor shopping or vendor discounts can be taken advantage of. Using these software packages enables this, which in turn drives insights and supports the right decisions at every stage of managing your operating expenses.

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 including vendor discounts
  • Managing supplier relationships, recovering over-payments and managing risk.

MindStream Analytics is a premier consulting and application managed services firm dedicated to helping clients enable better decision-making. With over a decade of experience in the analytics and Enterprise Performance Management (EPM) space, MindStream offers customers business intelligence and analytics tool selection, predictive modeling development, delivery optimization, and best practices for financial planning and budgeting. MindStream guides our customers to solutions that enhance business modeling that enables better analysis and insight into their data.

MindStream can work with your team to provide a detailed Spend Analytics Roadmap. The roadmap offers a detailed path of how to gain insight into you.

Tags: Business Intelligence Enterprise Performance Management Profitability Analysis

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Spend Analytics

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OneStream CPM

OneStream aligns to your business needs and changes more quickly and easily than any other product by offering one platform and one model for all financial CPM solutions. OneStream employs Guided Workflows, validations and flexible mapping to deliver data quality confidence for all collections and analysis while reducing risk throughout the entire auditable financial process.

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