Rosslyn Analytics’ spend analysis solution gives executives better visibility into corporate performance, risk and compliance by giving decision-makers the enterprise-wide spend intelligence they need to monitor business performance against goals, key performance indicators and other important metrics.

rapidintel.com is a web-based automated spend analytics platform that provides organizations with one central repository of spend intelligence that has been pulled from across any number of internal and external data sources.

The platform supports the diverse needs of business and operations, providing a range of easy-to-run pre-built analytic applications that help procurement and finance departments rapidly access critical spend intelligence for performance management purposes.

• Drive performance with consistent financial and operational information
• Enhance visibility of targeted intelligence for business and operational users
• Single repository for all enterprise-wide spend data for compliance purposes
• Improve communications between departments, colleagues
• Accurate, real-time reporting gives users more time to analyze spend intelligence
• Scalability enables users to add as needed analytic applications

Spend Analysis is an invaluable tool for decision makers to obtain visibility of business critical data in order to identify and manage an organization’s bottom-line. Yet, spend analysis can and should be viewed by organizations as a strategic enabler of change that delivers long-term business performance.

The Rosslyn Analytics Spend Analysis Maturity Curve has been developed to help procurement and finance leaders see the short- and long-term benefits of adapting advanced technologies including collaborative decision-making tools such as rapidintel.com, a web-based automated spend analytics platform.

At the moment, the vast majority of organizations are “Legacy in Class”, which means they are using spend analysis as a means to identifying short-term cost saving opportunities and risk vulnerabilities, such as with suppliers. Most organizations have or will pass the Visibility threshold only after serious (and unnecessary) commitment of resources, time and budget to develop and/or purchase a spend analysis solution meant to give decision-makers visibility of spend data.

“Best in Class” organizations are those that have moved beyond the initial phase of cost savings, having already forged a path of modernizing their procurement function. These organizations - by adopting advanced, web 2.0 technologies - are now focused on improving employee productivity, such as automating the collection and analysis of enterprise-wide spend data. In any purchase, decision-makers are also looking for spend analysis solutions that deliver short-term returns on investment. Procurement departments that operate between the Visibility and Intelligence thresholds realized early on that corporate success is based the sharing of actionable spend intelligence among colleagues. “Best in Class” organizations are starting to embrace collaboration, but which is currently limited to a specific global department.

The last phase in the maturity curve is for “World Class” organizations that are not only early adopters of new technology but are committed to business change through the implementation of best practices of corporate performance management. Organizations that operate between the Intelligence and Efficiency thresholds are those that rely on a collaborative spend intelligence platform to improve internal business processes, including: real-time knowledge share between colleagues; successful use of scoreboards to track performance against key performance metrics; and, aligning individual performance with critical organizational objectives. The main attribute of a “World Class” organization is that all enterprise-wide spend intelligence – integrated from internal and external data feeds – is seamlessly, and collaboratively shared across teams, departments and lines of business to improve operational efficiency, employee performance and innovation.

Organization currently not on a path lit by rapidintel.com platform can easily migrate with little effort or cost. rapidintel.com enhances the traditional ETLA process; combining what has traditionally been a multi-step process into one integrated data extraction and data warehouse phase. This first phase immediately places the organization on the border of the Visibility Threshold and propels them faster along the RA.Pid Spend Analysis Maturity Curve to become a Leading Edge organization.