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ProcurePort Spend Analysis Software

Trying to make sense of all your spend data? Not sure how much you are spending with whom and what category of spend? Discover how our Spend Analysis Services can help you uncover multimillion-dollar cost-saving opportunities.

  • Gain Clarity & Control

  • Maximum Cost Savings

  • Improve Decision Making

  • Expert Consulting

Achieve Full Clarity & Control over Your Spend Data

By using ProcurePort's Spend Analysis software, you can gain a clear understanding of your company's spend data, including how much is being spent with whom and in what categories. This level of clarity can help you make more informed decisions about your spending and gain greater control over your finances.

Spend Analysis Solution

Uncover Opportunities for Maximum Cost Savings

Our software uses advanced analytics to identify areas where you can reduce costs and save money. By analyzing your spend data, we can pinpoint opportunities to negotiate better contracts, consolidate suppliers, and eliminate unnecessary spending.

Maximize Cost Savings

Empowering You to Make Better Decisions

With a clearer understanding of your spend data and the opportunities for cost savings, you can make more informed decisions about your procurement strategy. This can help you maximize your resources, reduce risks, and improve your overall financial performance.

Improved Procurement Strategy

Secure Peace of Mind with our Expert Consulting

Our team of experienced data analysts and consultants provide expert guidance and support throughout the spend analysis process. With our help, you can be confident that your spend data is accurate, consistent, and reliable, giving you peace of mind and freeing up your time to focus on other areas of your business.

Spend Data Classification

Why ProcurePort Spend Analysis Software?

Common Spend Analysis Challenges

  • Integrating and analyzing data from multiple sources can be complex and time-consuming

  • Ensuring accurate and consistent data requires dedicated resources and expertise

  • Inadequate insight into supplier performance, standards, and deadlines

Risk of Not Having a Proper Solution Available

  • Increased costs and inefficiencies from an inability to target and optimize spend

  • Without accurate spend analysis, you risk overlooking valuable cost-saving initiatives

  • Missed opportunities for supplier mix optimization and long-term cost savings

Benefits of ProcurePort Spend Analysis Software

  • Accurate data aggregation, entry, and analysis simplify the spend analysis process

  • Experienced data analysts help guarantee accurate data cleansing and categorization

  • Ensure that suppliers are meeting agreed-upon standards and deadlines

Uncover the Truth in the Numbers

8% - 20%

Cost reduction opportunities with suppliers

30%

Reduction in risk related incidents by identifying supply chain risks

30% - 50%

Improved compliance with procurement spend by revealing areas of maverick spend

ProcurePort Spend Analysis Software Key Features

Discover how ProcurePort can enable your organization to identify cost-saving opportunities, improve efficiency, and make data driven decisions. Our solution provides valuable insights into purchasing patterns, supplier performance and compliance for better spend management.

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Data Aggregation

Our sourcing team will collect data from various sources and consolidate it into a single repository so all of your spend data can be created for further analysis.

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Data Cleansing

Our AI assisted spend analysis software will eliminate duplicate spend entries, normalize supplier names and classify supplier spend autonomously.

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Data Digitization

Convert paper invoices and spend reports into digital entries. Our team will provide data entry services if there are paper or PDF invoices that need digitization.

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Supplier Classification

Classify Supplier spend based on their products and services (by UNSPSC or custom taxonomy), making it easier to track and manage supplier spend.

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Spend Cube Preparation

Organize the cleansed and categorized spend data into an Excel spend cube. The spend cube can be used to filter data to create actionable insights.

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Web-Based Dashboard

Our on-demand analytic dashboards provide an easy way to run multiple strategic sourcing scenarios to assist with optimizing future spend in your overall supply chain.

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Spend Identification

Spend analysis dashboards identify different areas of spend that are addressable vs non-addressable, allowing your team to easily target and optimize spend.

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Sourcing Strategy

Consultation and strategic guidance on sourcing techniques for generating cost savings and supplier mix optimization for all addressable spend.

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Data Aggregation

Our sourcing team will collect data from various sources and consolidate it into a single repository so all of your spend data can be created for further analysis.

auto_awesome

Data Cleansing

Our AI assisted spend analysis software will eliminate duplicate spend entries, normalize supplier names and classify supplier spend autonomously.

laptop

Data Digitization

Convert paper invoices and spend reports into digital entries. Our team will provide data entry services if there are paper or PDF invoices that need digitization.

category

Supplier Classification

Classify Supplier spend based on their products and services (by UNSPSC or custom taxonomy), making it easier to track and manage supplier spend.

deployed_code

Spend Cube Preparation

Organize the cleansed and categorized spend data into an Excel spend cube. The spend cube can be used to filter data to create actionable insights.

dashboard

Web-Based Dashboard

Our on-demand analytic dashboards provide an easy way to run multiple strategic sourcing scenarios to assist with optimizing future spend in your overall supply chain.

search

Spend Identification

Spend analysis dashboards identify different areas of spend that are addressable vs non-addressable, allowing your team to easily target and optimize spend.

lightbulb

Sourcing Strategy

Consultation and strategic guidance on sourcing techniques for generating cost savings and supplier mix optimization for all addressable spend.

Mobile App Accessible

Work anywhere, anytime, on your smart devices with the mobile responsive ProcurePort Spend Analysis Software.

Integrate with Everything

At ProcurePort, our goal is to provide you with a procurement experience that is both effective and hassle-free. That's why we've integrated with some of the top technology solutions in the market to ensure that our software works seamlessly with your existing systems.

Third Party ERP integration
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Cloud-Based

99.99% Uptime

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Globalized

Currencies and Languages

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Secure

SOC2 Type2 Certified

Spend Analysis Software FAQs

What is spend analysis software?

Spend analysis software is a tool that helps organizations collect, categorize, analyze, and manage their spending data. It enables businesses to gain better visibility into their expenditure, identify cost-saving opportunities, monitor supplier performance, and improve procurement processes.

How can ProcurePort Spend analysis software benefit my organization?

Some key benefits of using the ProcurePort spend analysis software include:
  • Improved cost efficiency through the identification of cost-saving opportunities and better supplier negotiation outcomes.

  • Enhanced visibility into organizational spending patterns, which can help in better budgeting and forecasting.

  • Streamlined procurement processes by automating tasks, reducing manual work, and minimizing errors.

  • Improved supplier management and risk mitigation by monitoring supplier performance and compliance.

  • Data-driven decision-making by providing insightful reports and analytics.

How does ProcurePort spend analysis software work?

The software works by collecting and consolidating data from various data sources such as invoices, purchase orders, and payment records. It then cleanses, categorizes, and enriches the data to provide a comprehensive view of organizational spending. The software allows users to analyze the data, generate reports, and identify trends and opportunities for cost savings.

Can ProcurePort spend analysis software integrate with my existing systems?

ProcurePort spend analysis software integrates with a variety of systems, such as Enterprise Resource Planning (ERP), e-procurement, and accounting software. Integration enables seamless data flow and provides a more holistic view of your organization's spending.

How secure is ProcurePort’ spend analysis software?

Security is a crucial aspect of the ProcurePort solution, including spend analysis software. We prioritize data security by implementing robust encryption methods, secure data storage, and compliance with industry standards and regulations. When selecting spend analysis software, make sure to inquire about the vendor's security measures and certifications.

What are the key features of the ProcurePort spend analysis software?

Some essential features of the spend analysis software include:
  • Data collection and consolidation from multiple sources

  • Data cleansing and categorization capabilities

  • Customizable dashboards and reporting options

  • Advanced analytics and data visualization tools

  • Integration capabilities with existing systems

  • User-friendly interface and ease of use

  • Scalability to accommodate business growth

  • Robust security measures and compliance features

  • Responsive customer support

Can spend analysis software help with supplier management?

Yes, spend analysis software can play a significant role in supplier management by providing insights into supplier performance, pricing, and contract compliance. This information can help organizations identify areas for improvement, negotiate better terms, and mitigate potential supplier risks.

Let’s Discuss Your Needs

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