scanmarket

Spend Analytics

Visibility Into Your Business Spend

Recent research shows that procurement organizations that have adopted advanced automation technologies operate with 21% lower labor costs and are more effective at delivering services to internal and external customers.

With greater analytic capabilities, chief procurement officers (CPOs) have also gained a deeper understanding of their supply chains and, as a result, are taking on increasingly strategic and advisory roles in support of the overall business strategy.

Scanmarket’s Spend Analytics is a software that helps CPOs identify opportunities for savings and supplier dependencies while mitigating risk through instant visibility to company-wide spend, providing actionable insights that will elevate procurement to deliver strategic business impact.

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A computer showing Scanmarket Spend Analysis module

Based on Customer Reviews

Scanmarket a Leader in Spend Analysis

Scanmarket Awarded Gold

Scanmarket is proud to be ranked 1st in Spend Analysis - receiving an 84% satisfaction score compared with a category average of 75%, purely based on reviews from existing customers.

Scanmarket was recognized as a leader in the 2021 Strategic Sourcing Data Quadrant report from SoftwareReviews.

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"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

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How Our Strategic Sourcing Software Compares

We know it.  You’re looking for the best strategic sourcing platform for your business, and it requires careful consideration – and a lot of knowledge of who you chose to partner with.  

We’re trying to make it easy for you to make that decision.  Please take a look at some of the sources we would use ourselves if we had to choose a new strategic sourcing vendor for our next adventure.

See how we compare

Scanmarket Spend Analytics

Features & Benefits

STRATEGIC PROCUREMENT - provide insights & project cost savings for financial planning and direction of company strategy

DRIVE BUSINESS DECISIONS - proactively identify and enable solutions for complex procurement issues that impact business planning and execution

SINGLE PANE OF GLASS - gain an instant overview of spend across all data sources, geographical spread and languages, providing insights on opportunities for efficiency gains and risk reduction

EXECUTE EFFICIENCY OPPORTUNITIES - detect and seamlessly implement opportunities for efficiencies through one intuitive platform with several procurement modules

KEEP MAVERICK SPEND IN CHECK - cross-business visibility empowers you to stay in control of non-budgeted spend, fostering a healthy relationship between contracts, purchase orders and spend

CATEGORIZING SPEND - automate categorization using artificial intelligence (AI), reducing manual processes and human error

ESTIMATE SAVINGS OPPORTUNITIES - determine strategies for short- and long-term savings based on actual spend data, analyzed and deployed as a baseline for measuring improvement initiatives

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

INCREASE CATEGORY INTEL - optimize use of suppliers by mapping spend & payment terms per supplier, identifying direct or indirect spend risks

ENRICH DATA - improve data trust by clarifying, normalizing and adding 3rd party data for improved data hygiene

INTUITIVE USER INTERFACE - provides an in-depth and configurable view into the entire business, enabled through easy search, filter and sort functions

INSTANT VISIBILITY - online reporting and real-time data provides a current view of the business

SCANMARKET

Getting Implementation Right the First Time

Selecting and purchasing a new eSourcing solution is no easy feat, but getting it successfully implemented is even more difficult - which is why we've made it our business to ensure your eSourcing implementation is a success.  

No company is the same, which will be reflected in your implementation process - but we have a great number of best practices that we would like to share.