The lack of accurate and current spend data was one of Source-re's most significant pain factors. The ability to provide credible influencing information and recommendations to an organisation at a strategic level was always hampered by cries of, "We don't recognise that data". With Spendkey, CFOs, CPOs, and other executives within Source-re's customer organisations have felt that they are getting accurate and structured data that they can understand in a much clearer format.
Munidpharma put their most significant challenge to Spendkey. Working collaboratively, Spendkey ingested data from 35 separate ERP systems in 20 languages and eight currencies. Within two weeks, Spendkey delivered a robust view of Mundipharma's global expenditure at a fraction of the cost of alternative platforms in a precise and straightforward dashboard.
Analysing spend data is the most important aspect of procurement spend analysis. Data analysis software showcase your business's purchasing patterns recognises potential savings opportunities and helps meet compliance standards. In all of the procurement, spend analysis is perhaps the most versatile analysis.