Spend Analytics enables smarter, more cost-effective procurement strategies
17 April 2013 - Advanced Business Solutions (Advanced), a market-leading provider of business applications and services, has boosted its business intelligence offer with the launch of Spend Analytics.
Spend Analytics has been designed for organisations which are striving for smarter, more cost-effective procurement methods. It will enable increased visibility, efficiency and control of the procurement process.
The solution uses data from an organisation's existing finance system to give a unified view of all spend in an easy-to-use web-based interface. This allows staff to rapidly identify price variances, non-compliant ordering, problematic invoice processing and supplier performance.
The solution can integrate easily with any finance system and enables staff to quickly view the data and identify direct cost savings and process improvements. As a result, businesses can enjoy a rapid return on investment, while staff time is freed up to focus on more value-adding activity.
Dean Dickinson, Managing Director of Advanced Business Solutions (Public Sector & Enterprise), says, "The challenging economic environment is forcing organisations to evaluate how they can streamline and save in order to survive. This is prevalent across the public sector, which is under increasing pressure to make further cost savings. As a result, we are seeing an increase in the number of organisations which are looking to improve the procurement process by implementing effective spend performance management processes.
"Spend Analytics allows staff to monitor, control, reduce and consolidate spend across the organisation. Overall it offers a smarter procurement process, helping to save costs, manage supplier risk and maximise efficiencies."
Additionally, the solution has in-built security and key performance indicators to quickly identify where targets are being met, as well as trend reporting to enable monitoring of performance over time. It also highlights any abnormal spending behaviour, which can be acted upon immediately.
With more than 500 successful implementations delivered to UK customers over the last ten years, Advanced Business Solutions is one of the leading business intelligence consultancies.