Spend data management has emerged as a lead strategy that enterprises will use to drive continuous improvements in supply chain management. Despite the immense value that well managed spend has been proven to deliver, very few organizations have a structured methodology for analyzing spend data and using it as an effective decision support tool.
Most companies have multiple enterprise transaction systems and lack the tools and processes to properly aggregate, cleanse, normalize and monitor their spend with multiple vendors at the line item level.
Though some companies have analytical abilities built into enterprise software systems, they fail to generate the intelligence that is sought by executive management due to tools being limited in their intelligence, as compared to an actual Analyst.
The services assist customers in getting insights on their direct and indirect spending, monitor the performance of suppliers and identify opportunities to consolidate spending or reduce costs of procurement.
Arkedge offers a solution that helps clients attain full visibility into their spend; better understanding where savings opportunities exist, and how to achieve the best savings.
Arkedge eSpend Solution
Arkedge's spend analysis solution provides a total solution to companies that are looking to consolidate spend data from multiple systems, transform data quality and analyze transactions, to provide actionable results. Our spend analysis offering combines our commodity expertise with automated technology and provides a comprehensive view of your organization's spend. This "bottom-up" approach includes:
Requirement review and finalization
Data Collection and Consolidation
Data Cleansing, Normalization and Clustering
Classification, Enrichment and Review
Advanced Data Analytics Reports
Arkedge eSpend can accept data from various file type, i.e., Text, MS Excel, XML, MS Access etc. Our analyst's upload, review, accept, reject, validate, normalize, cleanse, cluster classify, and analyze the data through eSpend analysis tool.
Reports such as spend by business unit, geography, reporting period, category, vendor, UNSPSC code, language, price variance, etc. are available within the tool. A detailed opportunity assessment is also performed to provide insights to clients on where and how to achieve cost savings across their entire spend.