Spend Analysis
Uncovering the savings opportunities, trends and patterns in
your spend
Part of an overall procurement transformation involves gaining all-new visibility
into your true spend across categories and business lines - with the goal of sharpening
your sourcing strategies and processes.
The GEP® (Global eProcure) Spend Analysis solution will
give you a whole new perspective on your spend ways, both to identify your best
savings opportunities and to monitor the effectiveness of your sourcing. This detailed
analysis of your spending profile can even identify how quickly procurement transformation
can progress at various levels of resource commitments.
GEP Spend: Artificial Intelligence (AI) based Spend Analysis Engine
To perform your spend analysis, our analysts use GEP Spend, a patent pending, artificial
intelligence based analysis engine that can work with data from virtually any system,
in any file type (e.g. text, Microsoft Excel, XML), in any language or character
set. Your data is then cleansed, validated and normalized for full analysis, which
involves sorting, searching and mining the supplier and commodity information. An
expert opportunity assessment can also be performed to provide insights on where
and how to achieve cost savings across your entire spend.
Enabling better decision making
Customized GEP spend reports can give you detailed views of your enterprise spend,
with 95% + accuracy, and visibility to the level of line item, commodity and SBU.
The engine then uses this intelligence to help Chief Procurement Officers (CPOs)
identify better sourcing opportunities and estimate the savings that could be achieved
with improved strategies and processes.