Spend analysis and categorization

Automate the consolidation and categorization of fragmented spend data to achieve greater visibility into spending patterns.

Solution for

Enterprises

That want consistent and unified view of their spend and how it breaks down across categories

The challenge

Procurement and finance data can be scattered across various systems, making it difficult to consolidate and gain visibility into overall spending.

Manual processes for gathering and categorizing spend data are resource-intensive and prone to errors, which delays decision-making and reduces efficiency

Spend can be categorized differently by different people, which leads to discrepancies and makes accurate analysis difficult.

The solution

Automatically categorizing spend data from ERP and procurement systems, and consolidating it into a single, easy-to-read dashboard. Identify discrepancies in categorization, consolidate spending from various departments, and get actionable insights to improve budgeting and cost management.

  • Automated spend data collection and categorization.
  • Standardized spend classification based on industry best practices.
  • Alerts for spend changes and cost-saving opportunities.

How it works

  1. Connect your ERP and other systems such as AP automation, Source to Pay and Payment systems.
  2. Get a consolidated list of spend automatically categorized with standard classifications.
  3. Drill down into areas of spend to find opportunities to rationalize costs.
  4. Receive regular update alerts on changes so you can act quickly to changes.

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