Spend Analytics
Spend Analytics is the process of aggregating, cleansing, classifying, and analyzing corporate purchasing or spend data in order to reduce procurement costs, improve efficiency, and monitor supplier compliance. On average, corporate procurement leaders have visibility of only 50% of their overall spend. To improve spend analysis and positively impact corporate profitability, EBEX utilizes internally developed best practices perfected by our spend management experts and innovative technology solutions which help our clients consolidate and rationalize their corporate spend.
At EBEX, senior procurement and spend analytics experts utilize best-in-class technologies and spend analytic tools to perform a comprehensive analysis of your company’s spend in order to develop a roadmap to optimize your procurement process. Our spend analytics methodology utilizes a multi-phase approach Data aggregation (identify, normalize and summarize spend data), Data cleansing (scrub incorrect, incomplete, unformatted, or duplicate spend and supplier data), Supplier grouping (organize suppliers by vendor classification), Item classification (identify a category for a particular product or service), Spend analytics (implement and automate spend reports and dashboards) Additionally, our team of analysts supports client teams with complex analytical needs like TCO modeling, value engineering, clean-sheet costing, SKU rationalization, and master data cleaning and management.