Enhance visibility of your procurement spends with TradeEdge Spend Analytics

76%

CPOs need to reduce costs

5% to 10%

reduction in annual expenditure, on average, for firms that use digital to manage tail spend

75%

CPOs find value in spend analytics

Optimizing procurement spends has always been a challenge for any procurement organization. Multiple suppliers for the same or similar products take away any volume advantage that an organization may have. Multiple identifications for the same supplier results in further fragmentation of spend data. Lack of standardization in the procurement process further hinders spend visibility at a category and supplier level. Relying on a manual and time-intensive data cleansing process, most companies are unable to accurately classify spends, consolidate suppliers, and identify saving opportunities.

While CPOs recognize the need to drive operational efficiency, reduce costs, improve visibility, and adopt the right spend analytics solutions, barriers to spend visibility remain.

Barriers to spend visibility

No single source of truth

Spend data is spread across multiple sources in various formats. Lack of integration between systems makes it difficult to consolidate, harmonize, and analyze spend data for reliable insights.

Lack of standardized process

The absence of contracts, purchase orders, etc., hinders visibility beyond a certain number of suppliers and categories.

Heavy dependence on manual analysis

In the absence of the right analytical tool, companies still depend on a manual process for spend analysis. This delays data collection, analysis, and ultimately timely business decisions.

Optimize spends with TradeEdge Spend Analytics

TradeEdge Spend Analytics is an AI-powered spend data management solution that gives accurate and complete visibility into your organization’s spend data. It helps identify savings opportunities by automating data management activities and normalizing and classifying spend into the right taxonomy – category structure. With TradeEdge Spend Analytics, you can:

Manage Data

Get Visibility

Identify Opportunities

Get Actionable Analytics

Procure smarter with TradeEdge Spend Analytics

Recognized as the “Data Analytics Solution of the year” at CPO TSC awards 2019

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Get better visibility of your procurement spends with TradeEdge Spend Analytics.

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10-12%

Reduction in vendor base count

40-50%

Enhanced spend visibility at a more granular level

50-60%

Productivity gain

6-8%

Potential savings opportunity

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