Setting a New Standard in Data Management
Spend Radar helps companies manage distributed and diverse sets of information in a completely new manner, setting a new standard for data management.
Spend Radar’s approach is transparent—and empowering. Unlike previous generations of tools, Spend Radar does not rely on a black-box or an off-shore factory of analysts to lead or babysit the effort—nor does it treat data gathering and classification as just a necessary step to get to analysis.
Rather, Spend Radar provides the first and only stand alone spend data management solution that helps companies get as close to 100% accurate classification themselves, providing flexibility to expose the right set of information to the right audience at the right point in a decision process.
Breakthrough Coverage and Accuracy
Many Spend Radar users achieve 95%+ classification coverage and accuracy—on their initial pass at the information. But for us, better outcomes only speak to part of the value. Spend Radar changes the spend data management paradigm from one based on classifying data to a particular format on a one-time basis to classifying dynamically—and in some cases in parallel—based on evolving needs and requirements for different business stakeholders.
Classifying to Multiple Needs and Taxonomies – On the Fly
For example, procurement and IT organizations can use Spend Radar to classify spend to multiple taxonomies (e.g., UNSPSC and SAP material codes), creating a more accurate vendor and item master that leverages existing systems and investments. But in the same company, the finance and A/P team can use Spend Radar to capture, associate and audit accounts payable and invoice information to a supplier based on their own coding structure while reserving the option for procurement and IT to see the information in whatever format—or series of formats—they choose.
Or perhaps after an initial set of program success targeting traditional direct and indirect spend categories, the procurement and logistics team might team together to classify inbound freight information to identify savings opportunities for categories of spend that typically go unclassified—and unmanaged.
Solution Framework
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