Identify Savings Through Spend Analysis
Welcome to the next generation of spend analysis solutions. Spend Radar is designed with a flexible data model that can process any kind of data to provide unmatched analysis across all spend data sources. It is easier than ever to get high-quality, high-volume data in days, not weeks or months.
Spend Radar comprises the following modules:
- Data Manager is the flexible, high-quality master data management module that has been specifically tailored for ongoing management of organization-wide spend and spend-related data and is the starting point for all of the Spend Radar extension modules. All data is collected, cleansed and classified within Data Manager. Enrich your existing spend data with third-party supplier and market content, increasing data quality and reliability.
- Refresh Manager allows you to manage and maintain changes to your supplier groupings and structure and update your spend data classifications. With Refresh Manager, you have the power to quickly process your own spend data refreshes on your own schedule. Refresh in one day instead of two weeks.
- Reporting and Analysis offers an easy-to-use graphical user interface for all of your organization’s spend. Populated with standard, pre-built reports as well as customer specific reports, Reporting and Analysis provides you with accurate and complete spend-related data, allowing you to make business decisions based on the most complete and up-to-date information available.
Data Manager is a comprehensive master data management (MDM) module designed for spend data, which seamlessly collects and maintains enterprise data from an unlimited number of sources in any format, language or currency. Within this tool, disparate data is standardized, cleansed and classified according to your business-specific rules, ensuring the highest levels of data accuracy in analysis and reporting. Data Manager uses a flexible, data-driven business model that enables you to modify the structure and output of your information as your business requirements evolve. You can rest assured that all supplier and sourcing information will be visible and grouped correctly, and all of your internal and external classification taxonomies will be supported. Data Manager provides a solid foundation for your data allowing you to make smart, informed decisions that will drive improved sourcing and increased savings activities.
Content Manager is an innovative approach to the integration of third-party supplier and market content with existing spend data via content-as-a-service. The Spend Radar Data Manager performs an initial cleanse and consolidation of your data. With Content Manager, you then have full control over what data to enrich (i.e. by category, all, US only) as well as over the data refresh frequency. Vital supplier and market information can be obtained as needed to research and support supplier risk, supplier diversity, sourcing programs, and overall spend management needs. Information such as producer price indexes, commodity pricing, freight information, parent/child linkage and global insight market data can be obtained as well. This information allows you to better manage relationships and provide a comprehensive view of the supplier and the supplier’s spend. And most importantly, the data packets have been uniquely tailored by Spend Radar to provide only the data most requested by organizations like yours – thus keeping costs down.
Spend Radar’s Refresh Manager module takes your data beyond the initial “snapshot” of basic spend analysis. By utilizing this data-driven technology, you can not only actively analyze, measure and manage spend on a scheduled, ongoing basis across the organization, but also create separate and flexible refresh schedules for individual data files. This is accomplished using a comprehensive and highly-automated data management application that was built specifically for spend data collection, cleansing and classification. Refresh Manager allows day-to-day spend analysis to be accomplished by managers and purchasing professionals using the most up-to-date data, with many automated checkpoints to ensure data and business accuracy. And as more and more data is collected and refreshed, the value expands to those in purchasing and finance roles across the organization.
The Performance Manager module extends advanced spend management capabilities by incorporating full-compliance monitoring across all sourcing and savings projects. By combining this feature with our advanced spend analytics, organizations identify sourcing opportunities and easily transform relevant information into structured sourcing projects. The dynamic architecture enables further flexible configuration, allowing users to track the most relevant information, from both internal and external data sources. Tightly coupled with Refresh Manager, actual spends are tracked against sourcing award and contract information. A built-in alerting system, which can be tailored to closely monitor deviations between spend and award/contract information, proactively alerts users to areas of non-compliance.
Reporting and Analysis
The Reporting and Analysis module is a web-based application that can be accessed anywhere, anytime to retrieve the most up-to-date, relevant information. All data is pulled from Spend Radar’s Data Manager in a secure, central location with a single, reliable version of the truth. Users – from experienced data analysts to mainstream business users – can be fully trained in a matter of minutes. No extensive training or knowledge of underlying data or complex data sets is required, allowing the right people to focus on the right issues at the right time. Reports are provided in a visual, interactive method that simplifies complex analysis and provides instant insight to an organization’s spend, sourcing opportunities, savings and compliancy rates. All forms of data and transaction details can be managed and shared in an automated, controlled and replicable manner that supports and quantifies smart decisions.