While spend analysis and spend management are the greatest opportunities a company has to dramatically impact their bottom line, the execution has historically been difficult, time-consuming, and frustrating.

The difficulty lies in delivering measurable results on an ongoing basis across the organization, with the ability to show savings hitting the bottom line. Spend data is often incomplete, not current, maintained using different classifications, or too high-level to make the best decisions quickly and effectively. The data — specifically the complete set of underlying data — ends up being the bottleneck.

The majority of companies are performing basic spend analysis, which involves a “snapshot” of their spend data. This is a narrowly focused approach when it comes to managing spend; however, continuous refreshes across an entire organization for current and historical spend requires time and resources that are not always available.

And the frustrating part is “you don’t know what you don’t know.” With increased pressure to cut costs and generate more savings, true visibility into organizations’ spend and supplier information is required to achieve your savings goal. Until you lock down your savings, you will not experience the value and benefit of advanced spend data management.

Learn more about the challenges companies are experiencing.

Spend Radar’s web-based products can be accessed anywhere, anytime giving you access to the most up-to-date information. The data-driven architecture is designed specifically for spend data, getting companies close to 99% classification coverage and accuracy. All currencies, languages and taxonomies are supported, eliminating the need to translate data into a readable format.

With Spend Radar, the initial data cleansing and classification process is completed within weeks, offering quick turnaround of your data with relevant feedback. Prebuilt rules, auto-classification and a built-in UNSPSC library assist with ongoing classification and refinement of your data. Refreshes can be scheduled on an ongoing basis across the organization for individual data files, freeing up your time for other tasks.

Unlimited, transparent access is provided to Data Manager, our master data management (MDM) module. This allows unprecedented visibility to the classification and cleansing process. Organization-wide data is available, ensuring you are making the right decisions with the right information. Reports are provided in a visual, interactive method that simplifies complex analysis. Spend Radar supports all of your needs — from basic spend analysis solutions to ongoing spend management programs. 

Learn more about the Spend Radar solution.