How do I ensure my supply chain is as lean as possible?
How will my organization's productivity be affected by end-of-year budgets?
How can I consolidate my supplier contracts to deliver greater efficiencies?
Spend data is valuable to an organization on so many levels. Spend visibility can drive product prices, influence cash flow, enhance compliance, affect reputation and mitigate serious business risks.
There are various types of spend data available such as: supplier lists; category intelligence; corporate credit cards; eAuction results; commodity prices; contracts; industry benchmarks; RFIs; and, invoices.
But spend data is not only valuable to procurement and supply chain teams. It is also crucial for the finance team, and can be of huge benefit to other departments such as marketing, operations, sales and product development once the data has been combined with other forms of information.
Historically, spend data has been used to manage suppliers in the sourcing of goods and services. But its usefulness shouldn’t stop there. There is so much other data available – from inside and outside your organization – to help you make improved cross-functional business decisions in real-time.
Take a look at our infographics below to see how spend data could be integrated with other sources of information to deliver useful insights and organizational improvements with a single view.
To get you started, we’d like to share how we see and map out the value of spend data. This unique research showcases some of the insights you can create by accessing, connecting and sharing spend analytics, for example, across your organization. It maps out what business objectives can be achieved – so you know exactly where to focus your efforts in order to deliver true business value, in real time, not weeks.
Rosslyn Analytics can tell you a lot more than just the names of your suppliers.
Spend analytics has moved beyond knowing who you’re spending money with, on what and at what price. These days, it’s no longer acceptable to have a fragmented view of your organization and how it relates to the outside
So, without delay, start making your data roar by downloading our white paper.Download Value of Data White Paper