Spend Analysis

Spend analysis identifies potential opportunities for savings and allows prioritization of the right procurement enhancement opportunities.

As sourcing experts, we understand the frustrations of having massive amounts of data without being able to understand and use it. Buy Rite Technologies offers tools and expertise to help you cleanse, categorize, report and create a functional master database that is easy to use.

Spend analytics can easily be a savings tool that will assist you in identifying price discrepancies, savings opportunities, benchmarks for sourcing events and areas to focus your efforts. While the tool itself does most of the work, you can count on the support from our technical staff that will make the most complex implementation seem as though it is quite simple.

A comprehensive, global spend analysis can often seem a daunting task. By leveraging Buy Rite Technologies extensive experience in complex, large-scale spend analysis projects, our customers are able to significantly accelerate their spend analysis implementation timelines, while improving the quality and accuracy of their data.

We have both technical and business project managers that will work with your team to collect, cleanse, and classify data across all of your various locations, business units, and data systems.

Our team supports your organization at each stage of the spend analysis process, including:

• Defining data requirements

• Developing a classification hierarchy (or choosing a standard, such as UNSPSC)

• Collecting and rationalizing data extracts across multiple systems

Sourcing efforts should begin with analysis of both current and historic spend data. Procurement spend analysis encompasses the activities beginning with extraction of raw data from purchasing or financial systems (such as Accounts Payable) to applying sophisticated tools to the datasets to develop an actionable understanding of spend patterns, key suppliers, degree of aggregation, types and categories of spend, etc.

Our program will then allow you to perform advanced analysis capabilities using only basic Microsoft Excel® skills to:

1. Analyze large datasets (millions of records) on a laptop, desktop or in a network environment

2. Build, modify, manipulate, & analyze your own datasets

3. Aggregate data from different host applications (ERP, receiving, P-Card, T&E, etc,)

4. Create multi-dimensional view of your entire operation on one screen

5. Begin data “familying” and mapping tools & “cleansing” tools available to all so you can build custom datasets, map spend, build new dimensions, alter hierarchies, create reports, all in real time, with a simple point and click interface.