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Spend Analysis

Get a true picture of your spend

Enterprise-wide visibility and spend analysis is the key first step to achieving long term value in strategic sourcing. Unfortunately, many sourcing executives are constrained by dispersed, unclassified data across too many disparate systems to facilitate good decision-making and drive bottom-line improvements.

Scanmarket's Spend Analysis solution can help gather spend data from all your systems into a single repository. It is then cleansed, normalized, enriched and classified to provide a true picture of your spend across categories, vendors, business units and more. Scanmarket’s Spend Analysis module provides access to a reporting application able to “slice and dice” spend and provide critical decision support for your procurement initiatives. You need to see your information in order to use it.
Scanmarket Spend Analysis module
A MODULE FOR EVERY NEED

Scanmarket at a glance

Want to better understand Scanmarket's platform and how it can help you? Check out this short video for an overview of our solutions and how we view strategic sourcing.

With Scanmarket Spend Analysis, you get

Key Features

  1. AI (Artificial Intelligence) engine cleanses, enriches, normalizes and categorizes spend data from multiple source systems
  2. Online reporting which allows for complete drill-down visibility
  3. Automated data extracts from back-end systems
  4. Data can be classified to multiple taxonomies including UNSPSC, SIC, custom, etc.
  5. Quarterly or monthly enrichments
  6. Step by step analytics to help users prioritize and select commodities for sourcing
  7. Ability to search/sort/aggregate items by keywords
  8. Possibility to estimate savings opportunities
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SPEND ANALYSIS

Key Benefits

Single View

“One-stop shop” to see and understand all your spend

Confidence

95% confidence on spend through rigorous 3-stage QA process

Compliance

Monitor compliance with agreements and identify rogue spend

Opportunities

Identify opportunities for spend leverage & demand aggregation

Savings

Find direct savings through Purchase Price Variance analysis

"The tools are proving to be very successful and simple to use. Scanmarket takes a ‘can do’ approach and provides first class support"

— BARRY WILMER, PURCHASE SYSTEMS DEVELOPMENT, NISSAN

Get all the details

If you would like to explore this module more, please download the data sheet here.

Download data sheet
Spend Analysis datasheet