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Sue as a CFO understands the significance of improvements in working capital management and that it can generate more capital for her business,improve operational efficiency, increase profitability and potential growth.

As part of the senior leadership team, you should know the cost drivers and the levers that can be leveraged for your business to be profitable.

We all want our business to do well, in fact, better than our competitors! Every business unit within your organisation has a key role to play in the success of your organisation.

Payment Analytics is the process of integrating and analysing payments data from different sources like bank transfers, credit cards, employee expenses

An organisation that is not taking any action on their maverick spend will always lack the visibility of what your employees/business is spending and whom it is spending with to buy what products and services. Without this knowledge, organisations will be unable to risk assess the impact of this maverick spend.

Category Management helps to organise the procurement team resources and contributes towards economies of scale and enhanced supplier relationships whilst gaining an in-depth understanding of how each category contributes to risk management.

There is no need to continue estimating and guessing – Spendkey can tell you how your organisation is spending 100% of its expenditure and provide actionable insights to help you make informed decisions.

With Spendkey, pharmaceuticals can observe dependency on key suppliers by determining the level of dealings with them. The in-depth spend analysis which Spendkey provides helps pharmaceuticals to advance their risk management strategies.

AI in procurement has increased the speed at which data can be collected, analysed and utiliszed to create meaningful insights and make informed decisions

Before we go into the core topic of this article, it is important to ensure that we all have the same understanding of the meaning of spend analytics.