DataFlux Unveils Technology Designed to Reduce Purchasing Costs
Release date: 10/6/2009
DataFlux Accelerator for Spend Analysis allows users to identify procurement problem areas using actionable and improved supplier data
DataFlux, a leading provider of data quality and data integration solutions, today announced the general availability of the DataFlux Accelerator for Spend Analysis. Built on the industry-leading DataFlux data quality platform, the Accelerator automates the process of standardizing, classifying and aggregating data to help organizations make sense of procurement information.
Businesses looking to improve their spending efficiencies must reduce administrative time, standardize processes and compress sourcing and procurement cycles, thereby minimizing redundancies and reducing spend. A key element of this is understanding how much money is spent on each product with each supplier for both direct and indirect purchases.
“Supply management is in a sweet spot since procurement and sourcing organizations are in a unique position – they help to reduce costs,” said Mickey North Rizza in the July 2009 AMR Research Report, The Global Enterprise Application Market Sizing Report, 2008-2013. “Since September 2008, procurement and sourcing organizations have been on the hook to surpass normal combined savings expectations (across all spend types) of 8% a year. Increased commodity pricing and slimmed margins have placed the focus on innovative cost-out direct materials projects. There is also a concentrated effort to reduce consumption and cut costs for indirect goods and services.”
The Accelerator for Spend Analysis helps organize spend data to improve an organization’s understanding of procurement trends. The Accelerator allows users to cleanse, analyze and visualize procurement information. It works hand-in-hand with award-winning DataFlux data quality and data integration technology to provide a robust solution for complex procurement landscapes.
Using the Accelerator for Spend Analysis, purchasers can better determine which of their suppliers offers the highest value based on pre-defined, consistent performance metrics. Conversely, suppliers can leverage the Accelerator to observe their performance information and use that data to improve their metrics.
With the Accelerator for Spend Analysis, customers are better able to:
- Reduce costs based on insights from accurate, reliable data
- Take advantage of actionable spend analytics to better negotiate with suppliers and reduce supplier risk
- Minimize wasteful purchasing patterns and consolidate applications and/or vendors
The Accelerator for Spend Analysis also enables users to create a variety of powerful and easy-to-configure reports. These reports are ideal for improving compliance with regulations, helping companies enhance internal compliance with business rules, break down spending by organizational unit and analyze trends to proactively deal with emerging problems.
“The DataFlux Accelerator for Spend Analysis is extremely relevant for companies looking to rein in expenses and get their spend under control,” said Tony Fisher, president and CEO of DataFlux. “Having a solution that can cleanse, categorize, measure and create detailed reports on corporate expenditures is like having an unbiased, completely logical financial advisor on constant retainer. It helps procurement professionals organize chaotic data into usable, actionable information.”
About DataFlux Accelerators
DataFlux Accelerators are sets of pre-built technical services and business rules built on the core DataFlux technology platform. Combining DataFlux award-winning technology with the knowledge gained from years of experience solving data quality problems, DataFlux Accelerators offer proven solutions to common data issues, reducing the time required to realize the results from your data quality initiative.
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