DataFlux Accelerator for Spend Analysis
Spend analysis helps you organize and aggregate procurement data to create a more transparent and accurate spend data workflow. With better information on procurement, you can make more informed decisions about how an organization spends its money. The DataFlux Accelerator for Spend Analysis helps classify spend data and cleanse, analyze and report performance and purchase history – quickly, easily and in real time – using a web services framework.
The Accelerator for Spend Analysis is a robust software solution built on the core DataFlux data quality and data integration technology that enables spend analysis in complex procurement environments. Purchasers can optimally determine which suppliers offer the highest value, based on defined and consistent performance metrics. This technology allows organizations to improve spending efficiencies, reduce administrative time, standardize processes and compress sourcing and procurement cycles.
The Accelerator for Spend Analysis allows organizations to:
- Reduce costs with improved data accuracy
- Expand negotiating power with suppliers through actionable spend analytics
- Reduce wasteful purchasing practices through intelligent vendor consolidation
Features and Functionality
The DataFlux Accelerator for Spend Analysis is built on an industry-leading data quality and data integration platform, allowing organizations to automate the process of standardizing, classifying and aggregating data to make sense of procurement information.
Features
- Identify maverick spending and other outliers
- Improve regulatory compliance, such as Sarbanes-Oxley
- Enhance contract and internal policy compliance
- Expand go-to-market product capabilities, based on streamlined supplier management
- Reduce supplier risk through more trusted data and reporting
Functionality
- Measure progress towards a goal (scorecard metric, KPI)
- Provide breakdowns of progress by organizational units
- Provide detailed information within each organizational unit
- Suggest actions that help to mitigate supplier risk
- Analyze trends to target emerging problems