Just Analytics Blog | Performance Management News, Views and Op-ed

Effective Procurement and Spend Analytics

Written by Badhri Narayan Sriram | May 3, 2016 6:14:14 AM

 

The potential to use Procurement & Spend data to be more strategic, bring spend under management, change buying behavior and lower cost are readily apparent to procurement professionals. 

 

To be able to identify any cost saving opportunities, visibility to the current and past spending is needed. This enables the buying organisation to enjoy a comprehensive view on the metrics that drive improved cost and process efficiency as well as the procurement performance through analysis of bottlenecks. Monitoring how well the suppliers are currently performing enables to see the need for development activities and thus the targets for the future.  

 

Unfortunately, in most cases existing ERP/AP system doesn’t meet the procurement team’s needs and they are often without the analysis and information that would help them deliver on thier objectives.

Keeping Procurement Professionals  needs at the top of the mind ,  Just Analytics has built -  JINI Spend Analytics a pre-built analytical solution built on Oracle BI technology that provides a complete end to end insight into the spend patterns and visibility across procurement processes to help you better control costs and align expenditures with revenue.

 

Built on Oracle Technology, the solution is designed for procurement team to help them in  

  • Monitoring of entire Procure to Pay cycle including cycle time through different stages
  • Analysis of Spend by item category, supplier, Cost Centre etc
  • Ability to monitor Procurement process effectiveness ( example – PO Leakage, Agreement Leakage)
  • Monitor supplier performance with supplier scorecards
  • Ability to drill down to PO lines and invoice lines for actionable information

 

  

 

 Join us on 19- May at 11:00 AM SGT  for a webinar and live demonstration to learn more on how JINI Spend Analytics can help you