Spend Analytics Solution

Spend Analytics Solution

Spendkey is a trusted modern spend management solution designed to help
businesses reduce their third-party spend and increase bottom-line savings.
With Spendkey, businesses gain access to a 360-degree snapshot of their
company’s spending habits, enabling them to have a comprehensive
understanding of their procurement activities.
Spendkey uses the power of artificial intelligence to reduce the spend
management process to a few seconds. The platform allows you to ingest all
your spend data, which is collected, cleaned, and categorised according to your
company’s specific requirements. It lets you categorise your spend based on
standard taxonomy or customised taxonomy as per business requirements.
Once categorised, this modern spend management solution analyses the data
and reveals meaningful insights visible on multi-dimensional dashboards. These
dashboards are capable of revealing hidden spend by considering the smallest
details regarding every penny leaving your company’s treasury. From
identifying tail spend to discovering maverick spend, Spendkey ensures that
you do not miss out on any detail regarding your company’s expenses.
Spendkey provides granular views of spend for different cost categories. With
this level of visibility, businesses are able to identify areas where cost savings
can be made. Using detailed spend analysis, businesses can identify cost
drivers, identify trends, and uncover savings opportunities.
Using Spendkey, you can also gain valuable insights into your supplier
landscape with just a few clicks. Spendkey allows businesses to explore and
analyse their supplier contracts, track supplier performance, optimise the
supplier landscape and provides scope for greater negotiations with suppliers.
As a result, businesses can make data-driven decisions and manage their
supplier base strategically.
Among Spendkey’s major advantages is its efficiency. Being a fully automated
platform it eliminates the need for manual data extraction and analysis, which
can be time-consuming and labor-intensive, thereby providing valuable insights
and actionable recommendations quickly and easily. This allows businesses to
save time and resources spent on extracting insights from complex data sets.

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