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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
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.

Read more
Implementing an eSourcing software solution
SPEND ANALYTICS

Key Benefits

Single View

Single View

Dashboards to view and drill-down into all your spend

Confidence

Confidence

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

Compliance

Compliance

Monitor compliance with contracts and identify rogue spend

Opportunities

Opportunities

Identify opportunities for spend leverage & demand aggregation

Savings

Savings

Find direct savings through Purchase Price Variance analysis

Increase Visibility to Your Business

Identify the information key to your operations, and how to access it via our best-of-breed solution
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Want to Know More?

Explore the software in greater detail.

Download data sheet
Scanmarket Spend Analysis datasheet