Spend BI and Analytics

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Spend BI and Analytics

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Original Source:  by Ravi Kalakota via Business Analytics 3.0 Blog

“What is your spend IQ or data maturity?

Procurement organizations tend to swim in data. One of the most important strategies for any best-in class procurement organization is spend analytics. In conjunction with sourcing, category, contract management and purchasing, spend analytics provides a window into spend behavior to drive cost reduction and cost avoidance efforts.

As a result, we are seeing a lot of interest around Spend BI and Analytics projects. Chief Procurement Officers and other Sourcing/Procurement leaders of Global, large and even mid-market firms are increasingly focusing on spend data analytics as part of a new wave of spend rationalization projects…”

https://practicalanalytics.co/2012/03/08/spend-bi-and-analytics/

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