Monitoring spend and supply chain performance can be vital in reducing costs in a business. Without knowing how much your company is spending with a supplier, you do not know if you could be getting a better deal from someone else. A vital part of this process is maximising visibility of where money is currently being spent. With this knowledge, you can then determine if all spend is necessary and amalgamate spend from vendors for a more competitive price.
Combining Spend Data
A lot of businesses may have multiple departments or suppliers working together, each playing a vital part. The data from these departments/suppliers are usually kept separate and can cause problems when trying to generate KPIs. Combining these data sources can help bring more clarity as you will be able to see how factors from one department could have consequences for another department.
Our Data Solution
At Procurato, we can help combine data sets from multiple departments to give a detailed and complete view of your business in an interactive dashboard to allow you to:
Highlight factors in your business that are driving costs and underline opportunities that could help minimize unnecessary spend
Help improve the visibility of your costs by determining how much is being spent per vendor, region, KPIs specific to your company, and more
Generate a view that highlights vital KPI’s bespoke to your businesses supplier spend at a glance
With the right visualisation, insights can be understood more easily, whether it's heatmaps to highlight high volume areas for your business so that opportunities can be investigated which will have a high impact on the business.