SPEND ANALYSIS

Spend Analysis is critical to ensure effective spend management and create long-term and sustainable savings. Most procurement teams lack the resources, time and technical expertise to thoroughly consolidate and analyse their spend data, located across multiple and disparate systems. This results in a significant amount of missed saving opportunities throughout their organisation.

Data Vectors provides a unique blend of innovative technology and high end category expertise to provide over 95% accurate spends analysis.

Our Consultants help organizations to generate spend data for meaningful analysis through following services:

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  • Identification of source systems for data collection.
  • Conversion of paper based invoices, contracts to electronic format, if required.
  • Define data templates and extraction routines for extraction of spend data from source systems.
  • Spend reconciliation to ensure accurate 3rd-Party spend is being analysed and non-sourceable spend viz. inter-company, VAT, taxes and duties, etc. are segregated.

Data Vectors Spend Inference Machine (SIM) is an automated Artificial Intelligence (AI) based solution providing following data cleansing features:

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Classification

SIM can classify line item level as well as Supplier level to Global standards such as UNSPSC, eClass or Customer specific category schema. SIM has an integrated web search engine and uses a unique “context based” classification technique for achieving 95%+ categorization accuracy.

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Supplier cleansing

SIM is able to rationalize different representations of the same supplier (for example IBM, I.B.M., International Business Machines, etc.) as well as identify the group companies.

Our Cloud based Analytics tool can help in easy identification of saving opportunities providing the following features:

  • Aggregation and consolidation of multiple spend data sources viz. AP, PO, P-Card, T&E, Master data, etc.
  • Integration of contracts information as well as external intelligence such as D&B, Price indexes, Category market reports, etc.
  • Easy-to-use, self-service analytics dashboards, comprehensive reports and multi-dimensional analysis.
  • Savings opportunity assessment.
  • Spend compliance tracking and management.
  • Supplier information management.