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Next Generation Spend Analytics & Data Visualization

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This presentation shows procurement and strategic sourcing professionals how to use advanced spend analytics to move the needle from being tactical to strategic.

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Next Generation Spend Analytics & Data Visualization

  1. 1. Next Generation Spend Analytics & Data Visualization Strategies to Move the Needle from Tactical to Strategic Jake Wojcik Senior Vice President
  2. 2. Age-Old Question Why is Spend Visibility Hard to Achieve?
  3. 3. 1. Multiple systems / fragmented data 2. Maverick and unmanaged spend 3. Categorization that IS NOT procurement focused 4. Poor data input discipline 4 Challenges of Spend Visibility
  4. 4. Order Placement • Limited or out of date catalogs • No POs for some spend • Incomplete entry by buyers • Manual edits by buyers or entry clerks Supplier Invoice • Vague product descriptions • Lack of detail such as UOM • Supplier-specific item numbers Invoice Entry & Payment • Entry errors, scan errors • Redundant vendor IDs for the same supplier • Accounting-driven GL coding • Incomplete or no detail entered **The quality of data varies widely by supplier and category. Data Supply Chain Failure Points
  5. 5. The History of Spend Analytics
  6. 6. Spend Analytics 1.0 -- 1980s to 1990s What created 1.0? • Rise of modern Strategic Sourcing techniques & computerized business processes • Suddenly, procurement professionals had a lot of data Examples of 1.0 solutions: • VisiCalc, Lotus 1-2-3, Microsoft Excel Why didn’t 1.0 solutions work? • Spend analysis was an arduous process • Time consuming, expensive, and difficult to repeat
  7. 7. Spend Analytics 2.0 -- 1990s to 2010s What created 2.0? • Strategic Sourcing seeping from the Fortune 500 into the next layer of companies • Technology companies going through a revolution of their own Examples of 2.0 solutions: • ERP systems, P2P systems Why didn’t 2.0 solutions work? • Overreliance on technology; no human element • Solutions built by software executives; not procurement
  8. 8. • Categorization is often inaccurate • Categories do not map to the supply market • Off-shore vendor categorization teams do not understand the local market • Data often requires additional manipulation before it is usable • Tools for spend visibility are often:  Clunky  Don’t highlight the insights procurement pros need  Spreadsheets Why do 2.0 solutions fail?
  9. 9. What should Spend Analytics 3.0 look like?
  10. 10. Spend Analytics 3.0 In our view, the Spend Analytics 3.0 world would look like this: Intelligent Automation Expert Manual Intervention Injection of Strategic Sourcing Elegant, Easy-to-Use Interface
  11. 11. Spend Data Optimization SpendHQ is a spend analysis software that provides rapid, accurate and detailed visibility into your spend data. This full-service SaaS (Software-as-a-Service) spend visibility solution delivers actionable insight for sourcing and procurement professionals. Spend Visibility & Compliance Management Category Management Contract Visibility
  12. 12. SpendHQ provides spend visibility & advanced analytics for leading organizations in excess of $325B in spend annually Select Private Equity & Holding Company Clients Manufacturing & Industrial Retail & Consumer Brands Financial & Business Services Life Sciences & Healthcare Information Tech & Media
  13. 13. Questions? Jake Wojcik Senior Vice President Insight Sourcing Group & SpendHQ jwojcik@insightsourcing.com

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