Spend Analysis is the process of collecting, cleansing, classifying and analyzing expenditure data with the purpose of decreasing procurement costs, improving efficiency, and monitoring controls and compliance.
When you can visualize all your data, you can make better sourcing and supplier decisions. For example: do you have too many suppliers? Do you really know which suppliers you are spending the most with? Are your top suppliers compliant with your organizational standards and relevant regulations? Getting the answers begins with really seeing your data. After all, you can’t save what you can’t see.
Cymetrix offers a set of services helps to generate insights and value to your spend.