Identify opportunities for savings through sourcing activities, spend aggregation, supplier consolidation, payment terms, and purchase-price variances. Scanmarket Spend Analytics provides clear visibility of company-wide spend data and the means to interrogate it forensically.
Spend Management Software as Simple as it Should Be
At Scanmarket, we work tirelessly to make the digitalization of your procurement software as simple as it should be, with fast adoption throughout your organization.
Our spend analytics software provides a single view into your spend across geographies, categories, ERPs, etc. helping you identify opportunities for savings across your sourcing activities.
Make Sense of Your Spend
Find and share meaningful insights through data visualizations, AI-driven categorization, and prebuilt custom data connectors - all integrated with Excel. A single source of truth will provide the business intelligence to understand historical and current spend, and help you accurately forecast future spend.
AI-Driven Categorization
Simplicity Starts with Visibility
Scanmarket's Spend Analytics software identifies supplier dependencies and opportunities for savings while mitigating risks through instant visibility into company-wide spend.
Our application is designed to provide a high-level overview for category managers or similar, using category and/or regional filters.
The preconfigured dashboards provide as much detail as you need, making it easy for you to get answers to questions like:
If the pre-configured dashboards don’t provide the right details, we can create custom dashboards tailored to your specific needs.
Understand Your Supplier Base
A dashboard designed to improve your understanding of your supplier base better and identify low spend categories with too many suppliers.
Examples of insights:
Ensure PO Compliance
Track and ensure compliance across the organization by understanding who is buying off purchase orders, or if off-PO spend is related to specific categories or suppliers.
Examples of insights:
Holistic View of Payment Terms
Gain insights on payment terms across your supplier base. The dashboard provides a holistic view of payment terms related to for example categories, total spend, and the number of suppliers.
Examples of insights:
Spend Management Software
Keep Your Spend in Check
Discover how procurement leaders improve their use of resources and minimize spend. Cross-function visibility allows you to stay in control of non-budgeted spending. Foster a healthy balance of suppliers, contracts, and purchase orders to reduce tail spend.
Download the Advanced Spend Analytics Playbook to discover how leaders in procurement are improving labor efficiency and minimizing spend.
You will learn:
Getting Started with Spend Management Software Is Easy
Transferring Your Data
There are two ways to transfer your data - and you chose which suits you and your business processes.
Manual Data Transfer When It Suits You
Import your spend data using excel or any other tabular file format within minutes, using a secure SFTP server for your data transmission
Automated Data Transfer
If you prefer automatic data import, you can use any standard business connector, connecting most ERPs via open and non-proprietary standards. It uses the internet as a communication platform and allows you to automate the process of fetching new data.
Cleansing and Preparing Your Data
An analysis is only as good as the data it is built on. This is why cleansing and preparing your data is a key step before analyzing your spend.
01
Data Collection
Typical data sources include:
Data formats accepted:
02
Data Cleansing
03
Data Enrichment
04
Data Visualization & Reporting
Leveraging Machine Learning & Expert Validations to Classify Your Data
Collaborative Classification
1. Training the classification model
2. Running machine learning algorithms
3. Validating & refining the categorization
4. Retrain the model
5. Apply analytics to user dashboards
No Programming, Just Insights.
Everything we do, we do to enable ease of use and broad adoption. With Scanmarket's spend management tool, anyone can analyze spend data with no programming skills required.
Every Data Point is an Opportunity to Learn
Data Integration
Consolidate and explore any data, from spreadsheets to databases, ERP systems, P2P tools, and payment cards - all can be collected.
Quick Analysis
Connect and visualize your data in minutes using pre-configured dashboards for most standard procurement use cases.
Automatic Updates
Transfer the latest data using automatic updates, scheduled according to your business requirements.
Spend Analytics Features
Real-Time Reporting at Your Fingertips
Explore all the intricate details about Scanmarket's Spend Analytics solution.
AI-Driven Data Cleansing
Increase data accuracy and eradicate manual data preparation with artificial intelligence (AI) and automated rule-based machine learning technology.
Single Source of All Spend Data
Gain an accurate, amalgamated, and homogenized overview of spend across all data sources, business units, geographies, languages, and currencies.
Efficiency & Savings Opportunities
Analyze and interrogate your data across multiple standard and custom dashboards. Easily identify savings and efficiencies whilst being alerted to supply risks and compliance issues.
Data-Driven Business Decisions
Execute data-driven decisions to solve complex procurement issues that impact business strategy.
Benchmarks for the Future
Determine strategies for short and long-term savings and operational enhancements based on current data, and deploy them as a baseline for measuring improvement initiatives.
Scanmarket was recognized by SoftwareReviews as a leader for the 2nd year running in spend analysis in the 2022 Strategic Sourcing Data Quadrant report.
Explore all the intricate details about Scanmarket's Spend Analytics solution.
Learn about the benefits of using spend analytics to fully understand your spend and identify potential savings.
Spend Analytics
Visibility Into Spend
Instant Visibility
Online reporting provides a current view of the business, driven by the ability to update your spend when you need it – daily, weekly or monthly.
Keep Maverick Spend in Check
Cross-business visibility empowers you to stay in control of non-budgeted spend, foster a healthy balance of suppliers, contracts, purchase orders and spending – and reduce the ever-growing tail spend.
Compare Payment Terms
Identify inconsistencies and risks through comparison of types and terms of payment at global, site, or department level – and development over time.
Enrich Data
Improve data trust by clarifying, normalizing, and adding 3rd party data for improved data accuracy.
Spend Analytics
Fact-Based Insights
Increase Category Intel
Optimize use of suppliers by mapping spend & payment terms per supplier, identifying direct or indirect spend risks.
Strategic Procurement
Provide insights & project cost savings for financial planning and direction of company strategy.
Spend Reporting
Get regular reporting and trendlines on spend identifying e.g., how spend is used across the business, if spend is increasing or decreasing, the number of active suppliers and whether payment terms are correct.
Book a Demo
Originating from the needs of the procurement professional, Scanmarket's S2C software is built to be used. See for yourself how advanced technology can be as simple as it should be.
Services
Ensure source-to-contract program results with one of our expert Customer Success Managers to guide you.
Project Management
Manage and keep track of all projects in one single secure repository.
Ready to take the next step?
Find the solution that fits your needs.