Spend analysis creates cost transparency, uncovers potential savings and optimises cash management in purchasing and finance organisations. The insights gained lead to savings while increasing the efficiency of procurement processes. The AI used works like your co-pilot and builds on an ensemble of AI technologies: Natural Language Processing, Collaborative Filtering and Deep Learning.
Today, more than 100 customers and over 2,000 users from over 30 countries across all industries, with a total spend of more than €400 billion, trust in Spendency.
With the acquisition of Spendency, the Onventis product portfolio has been expanded by a powerful spend analytics solution. Using AI algorithms, the new spend analysis solution achieves maximum flexibility alongside the procurement cycle.
Users quickly find their way around the system without training.
Dashboards, graphs, tables, slice and dice data, and drill-down analyses are displayed within milliseconds.
According to customers and analysts: best price-performance ratio and transparent pricing.
DATA ENRICHMENT AND UPDATES
Many organisations struggle to compile a holistic view of their procurement since relevant data is spread out in several different systems and in different formats. The Master Data module enables enriching and cleansing existing data and automating the process of keeping it up to date. Add new data sources over time, as you gain access to it, to ensure your procurement analysis remains relevant.
AI-BASED SPEND CATEGORISATION
Modern AI algorithms support your evaluation process in the background. They help your procurement team to categorise product groups transparently. Use the category tree to select which category you would like to examine more closely. Individually adjustable dashboards give your users different views of procurement data grouped by suppliers, commodity groups, organisational units, transactions and much more.
Easy to integrate into any ERP solution
Through the direct connection to your ERP and/or e-procurement system, supplier data can be collected, processed and standardised. Using various drill-down methods for monitoring and evaluating spend processes, your spend is systematically analysed.
Ready to use and continuously synchronised
By using a cloud-based solution, installations are a thing of the past. There is no need for complex integrations or entire IT projects. Thanks to continuous updates in the background, you always work with the latest version. With a single login, you can access Spend analytics immediately and from any PC or tablet. Your data is synchronised on all devices, so that you can access your analysis, wherever you are.
User-friendly spend analytics solution, no training needed
Spend Analytics is easy to use, requires no prior knowledge and can be used regardless of the size of a purchasing organisation, the industry, a country, and currencies used. Even inexperienced employees quickly find their way around the interfaces and can use the solution for decision-making processes. You load your output data into the system via drag & drop. An individually configurable duplicate check ensures high data quality even with several source systems. The information is then checked and grouped. In total there are there are almost 50 diagrams, KPIs and preset evaluations that companies can access directly.
Quick creation of KPI reportings and views
Analysis data can be exported to any desired format. View spend analysis from the perspective of category, supplier, transaction, organisation and compliance. Periods are visualised and compared using time scales. For more indepth spend analysis, access detailed views based on subsidiary, cost centre, projects or any other required analysis value. In addition, supplier diagrams show the purchasing behaviour of individual suppliers in a clear and informative way.
Fact-based approach on purchasing behaviour
It has never been easier to derive the value contribution of purchasing. With the Onventis spend analyses you create the factual basis for your strategic purchasing work. You can see and measure the effects of purchasing activities in your company transparently and objectively using all available data. Share the insights you have gained at any time with the stakeholders of your company at any time.
Controlled access to all business spend
Monitor and structure user access rights and retain full control: Data can be uploaded and edited via the administration mode. The analysis mode is used to evaluate data. Manage access rights effectively via at least three roles. Administrators with full access to the system, buyers with access to analyses, for data exports and with insight into supplier agreements, and the reader with a view of the information on the analysis page. Further restrictions can be made at any time.