Quantzig, a leading analytics advisory firm that delivers customized
analytics solutions, has announced the completion of their new article
which explains the importance
of spend analytics. The spend data across organizations is
highly concealed with limited visibility into factors affecting spend.
This can be challenging for businesses, especially when it comes to
identifying new cost-saving opportunities to improve ROI. Spend
analytics can deliver significant benefits in terms of improving
bottom-line, enhancing spend data management, and improving process
This press release features multimedia. View the full release here:
TOP REASONS WHY SPEND ANALYTICS IS IMPORTANT (Graphic: Business Wire)
With the ongoing technological advancements, leveraging spend analytics
to improve spend data management is more of a necessity for businesses
looking to gain a leading edge. Looking ahead to 2019 and beyond, our
experts predict that there would be a significant surge in analytical
investments, especially spend analytics. At Quantzig, we’re continually
capturing inputs from our clients, and over the course of the year,
we’ve noticed a few clear benefits of spend analytics that have impacted
several business aspects.
To sustain a leading edge in today’s competitive business world,
it’s essential to keep abreast with the top trends and benefits of spend
in touch with our spend analytics experts to learn
Top reasons why spend analytics is important
Improves spend data management
Today spend data can be extracted from several sources including data
from accounts payable systems, payment consolidators, and vendor
management systems. The abundance of unstructured datasets from
disparate sources has made it crucial for businesses to continually
track and monitor spend data. By leveraging spend analytics businesses
can not only identify spend data sources but also segregate the gathered
data into procurement-centric spend categories.
Is your inefficient spend management system leading to several
losses? We’ve got the right solutions to tackle all your challenges, request
a free proposal today!
Helps visualize spend data
The use of interactive spend analytics dashboards makes it easier for
businesses to view and categorize data into indirect and direct spend
categories. The traditional methods that revolve around the use of
spreadsheets are not only time-consuming but also do not deliver
accurate results. The use of custom-built data visualization dashboards
can help businesses to visualize spend data and gain in-depth insights
into factors affecting spend.
Our spend analytics dashboards can help companies to track and
analyze spend data in real-time. Request
a free demo to know more.
Read the complete article here.
is a global analytics and advisory firm with offices in the US, UK,
Canada, China, and India. For more than 15 years, we have assisted our
clients across the globe with end-to-end data modeling capabilities to
leverage analytics for prudent decision making. Today, our firm consists
of 120+ clients, including 45 Fortune 500 companies. For more
information on our engagement policies and pricing plans, visit: https://www.quantzig.com/request-for-proposal