Spend Analysis with Iavenir Is Your Vision to Precision
Spend Data Solutions Loaded with Actionable Insights For
Intelligent Business Decision
A lot of businesses have various ERP, master data, and database, with an inadequate structure of suppliers and materials, which can lead to poor quality of spend data. Moreover, businesses have fewer ways to design the strategy for sourcing and identifying the entire spend categories and other beneficial areas.
To overcome these challenges, the spend data is cleansed and aggregated from various sources, group suppliers employing a proprietary database, and implement taxonomy to this cleansed data that delivers configurable readymade reporting.
Spend Analysis enhances visibility in the procurement data, allowing you to identify spend by assets, services, products, and suppliers. Moreover, it implements a dynamic ranking system that maintains a detailed picture of the worthiest suppliers of your business. With Iavenir’s Spend Analysis solution you obtain more insight that helps you better leverage your purchasing decisions, decrease costs while strategically improving the relationships with the suppliers.
Spend Analysis provides high-level visibility into the spending, who, on what, how much, and in which sectors, presenting information that opens up new opportunities for both the buyers and suppliers.
With millions of transactions and the number of buyers along with suppliers, Iavenir’s spend analysis service offers a comprehensive overview of the meaningful and company relevant data.
The expert team at Iavenir aggregates classifies and cleanses the spend data from various sources, simplifying the data mining across multiple organizations, areas and sectors all at once.
With a series of key features and in-depth industry analysis companies can tailor the data to suit their business requirements.