Spend Analysis 101

 

4. Data Enrichment

Data enrichment refers to the process of enhancing, refining, and improving raw spend data. It also includes standardizing the spend data for easy viewing. Enriching the spend data makes sure that all the header and line-level names and details are accurate and to a specific naming standard. 

5. Classification

Classification typically involves grouping several suppliers of the same parent company or organization. Unifying heterogeneous spend data into clearly defined categories makes spend easier to address and manage across the whole organization. Classification is about harmonizing all purchasing transactions to a single taxonomy, enabling procurement to gain visibility of the global spending to make better sourcing decisions.

Both direct and indirect procurement spend can be grouped into categories, enabling analysis and management of similar goods or services.

A spend category is the logical grouping of similar expenditure items or services that have been clearly defined on an organizational level. For example, “information technology” may be considered a spend category covering both IT software and hardware.

The spend taxonomy is the way a procurement organization classifies spend into hierarchies. One way to view spend categories is like a tree with many branches for different levels or sub-categories of spend.

The number of levels in a spend taxonomy depends on the procurement organization’s needs, ranging from three to six levels of categories and sub-categories.

When designing a taxonomy it needs to be thoroughly communicated and aligned internally with key stakeholders such as Finance and local/global Category Managers. A clear definition and understanding of each subcategory in the taxonomy helps in classifying your data accurately.

There are also standard taxonomies such as the UNSPSC (United Nations Standard Products and Services Code), a common coding system describing goods and services. It may be used to categorize procurement spend, but these are often not ideal for strategic sourcing.

6. Analysis of Data

The last step is to identify opportunities for savings and other procurement improvements. Analysis can answer business problems like "What are the best contract deals per supplier?" or "Are buyers purchasing from preferred suppliers?"

You can identify opportunities for reducing the number of suppliers per category and negotiating better rates. 

If you've come this far, it is beneficial to consider how external data assets can provide deeper and more strategic enrichment to your analysis. By connecting 3rd party data to your spend, you can make more strategic decisions powered by data. 

This is especially relevant in sustainable procurement. connecting Carbon emission data to your spend can help reduce your Scope 3 emissions. Supplier sustainability scores can also form a part of your category analysis.

 

 

Spend Analysis KPIs and metrics

Procurement data can be sliced and diced based on a number of key performance indicators (KPIs). Key Performance Indicators for spend analysis are essential metrics that help organizations measure the effectiveness of their procurement activities and identify areas for improvement.

Here are some crucial spend analysis KPIs to follow:

1. Spend Under Management: This KPI measures the percentage of total spend that is actively managed by the procurement team. High levels of spend under management indicate effective procurement practices and better control over expenditures.

2. Spend Visibility: This KPI assesses the extent to which an organization has a clear and comprehensive view of its spending data. High spend visibility enables better decision-making and spend management.

3. Cost Savings: This KPI tracks the total amount of money saved through cost reduction initiatives, such as supplier negotiations, strategic sourcing, and spend consolidation. It helps quantify the financial benefits of spend analysis.

4. Savings as a Percentage of Spend: This KPI measures the cost savings achieved as a proportion of total spend. It provides a clear indication of the efficiency and effectiveness of procurement strategies.

5. Spend by Category: This KPI breaks down spending into various categories, such as direct and indirect spend, to provide insights into where money is being allocated. It helps identify high-spend areas that may require closer scrutiny or optimization.

6. Supplier Consolidation: This KPI monitors the number of active suppliers and the concentration of spend among them. Effective supplier consolidation can lead to better pricing, stronger relationships, and simplified procurement management.

7. Supplier Performance: Metrics under this KPI include on-time delivery rates, order accuracy, and quality of goods or services. Monitoring supplier performance helps ensure that suppliers meet the organization's standards and contractual obligations.

8. Payment Terms Compliance: This KPI monitors adherence to agreed payment terms with suppliers. Timely payments help maintain good supplier relationships and can also leverage early payment discounts, contributing to overall cost savings.

9. Contract Compliance Rate: This KPI measures the percentage of spend that falls under negotiated contracts versus off-contract or maverick spend. High compliance or contract utilization rate indicate better procurement governance and cost management.

10. Procurement Cycle Time: This KPI tracks the average time taken to complete the procurement process from requisition to purchase order. Shorter cycle times reflect efficient procurement processes and quicker response to business needs.

Spend analytics solutions allow you to track KPIs in real-time through intuitive dashboards and custom reporting.

Spend Analysis Examples

There are countless opportunities and insights to discover in your spend data. Here are 6 of the most fundamental procurement analytics exercises you can use.

 

Spend Cube

Tail spend is defined as the amount of money that an organization spends on purchases that make up majority of transactions but only a friction of total spend volume. In ABC analysis these fall into the category C.

Tail spend is generally considered low-value purchasing, as it makes up only a small portion of spend (usually 10% of each spend category). Tail spend is easy to ignore but it's often the area where organizations may be leaving money on the table and utilizing their resources inefficiently.

 

The figure above illustrates the simplest approach to analyzing a company’s tail spend: calculating the spend ratios to suppliers at various points along the purchasing range. Here, the Y-Axis represents spend per supplier ("Total Spend by Supplier"), and the X-Axis represents the total supplier base ("Supplier"). Suppliers are ranked in descending order.

Tail-end spend management has been growing in recognition and increasing importance within procurement. Tail spend analysis can yield potential savings, reduce costs, improve key supplier relationships, and increase spend under management.

There are usually many low-value transactions with multiple vendors across business units. To combat this, you can identify contract leakages and maverick spending. The aim of tail spend management is reducing number of suppliers and consolidation of spend to preferred or key suppliers.

 

Category Spend Analysis

Category spend analysis allows you to explore spend in a defined spend category hierarchy. This is useful in identifying spend leakage issues.

The first step in doing a category spend analysis is understanding the scope and breadth of the category. Are you buying similar goods and services from too many different vendors? This analysis is built on hierarchies, and the spend transactions are categorized into the most appropriate category.

Allocating spend consistently into categories makes the data easier to navigate, interpret, and understand. When organizations can focus on prioritizing their top spend categories, it helps them identify and forecast savings opportunities.

Prioritization will allow better negotiations for key spend categories to ensure more favorable contracts and pricing. By drilling into their spend data, procurement professionals are also gaining a deeper understanding of their spend categories.

When you have a high-level overview of spend by category, it is easier to identify categories that help deliver savings and realize which projects bring strategic importance to the organization. With this, you can easily figure out which action to take based on what has the most impact on staff or operations and what the risks associated are. 

 

Item Spend Analysis

Item spend analysis refers to analyzing expenditure at an item/ SKU level. It focuses on individual purchases by classifying each one of them to identify what department it was for and what supplier was used.

This analysis gives the ability to know whether a specific item is being purchased from various suppliers or in several locations and at different item prices. It can highlight the different opportunities for purchasing in the business. You may also identify spend leakage issues, such as purchasing from non-preferred vendors and maverick spend. 

 

Payment Term Spend Analysis

Payment term spend analysis provides excellent insights for companies to analyze payment practices and terms within their purchase-to-pay (P2P) processes. It explores the opportunities of leveraging all possible discounts or interest from the invoice payment process while increasing working capital.

Payment term spend analysis gives a comprehensive view that enables you to identify unrealized payment term discounts, late payment interests, or opportunities to negotiate better payment terms.

It also covers the review of payment patterns to identify practices and activities that are not done properly.

 

Contract Spend Analysis

Finally, contract spend analysis tells companies if they are complying with their existing negotiated contract terms.

It analyzes spending with vendors by contract to identify leakage through non-compliant contracts. It ensures that the best contract deals per supplier have been negotiated and that all buyers purchase from preferred suppliers.

 

Spend Data Visualization

Now that we have covered the spend analysis basics, it's time to look at the spend visualizations. Different data visualization types can help make complex spend analysis data more understandable and actionable, enabling organizations to identify trends, outliers, and opportunities for optimization more effectively.

 

Spend dashboard with bar chart, stacked bar chart, pie chart and line chart.

 

Here are most common procurement data visualization types and their use cases:

Bar Charts

Bar charts are versatile and effective for comparing values across different categories.
They are commonly used to visualize spend by category, supplier, or business unit.

Stacked bar charts show the total value broken down into sub-categories, making them useful for comparing the composition of spending across different categories or suppliers.

Pie Charts

Pie charts represent parts of a whole and are useful for showing the distribution of spend across different categories or suppliers.
They provide a clear visual representation of the proportion of spending in each category.

Line Charts

Line charts show trends over time and are useful for visualizing changes in spending patterns or supplier performance. They can help identify seasonal fluctuations or long-term trends in spending.

Heat Maps

Heat maps use color gradients to represent data values and are effective for highlighting areas of high or low spending. They can be used to visualize spend by geography, department, or other categorical variables.

Bubble Charts

Bubble charts represent data points as bubbles, with the size of the bubble indicating the value of the data point. They can be used to visualize spend by supplier, with larger bubbles representing higher spending.

Treemaps

Treemaps use nested rectangles to represent hierarchical data structures, making them useful for visualizing hierarchical relationships in spending data. They can be used to show spend by category, with larger rectangles representing higher spending categories.

Scatter Plots

Scatter plots visualize the relationship between two variables and are useful for identifying correlations or patterns in spending data. They can be used to visualize the relationship between spend and performance metrics such as supplier quality or delivery times.

Pareto Charts

Pareto charts combine both bar and line graphs to represent categorical data and their cumulative totals.
They are useful for identifying the most significant categories or suppliers contributing to total spend, highlighting the "80/20 rule" where a significant portion of spend comes from a small number of categories or suppliers.

Sankey Diagrams

Sankey diagrams visualize flow between nodes in a network, representing the magnitude of flow using the width of the lines.
They are useful for visualizing the flow of spending between different categories, suppliers, or business units, providing insights into how spending is distributed and transferred.

Waterfall Charts

Waterfall charts illustrate the cumulative effect of sequential positive and negative values, showing how an initial value is affected by subsequent changes.
They are useful for visualizing changes in spending over time, such as the impact of cost-saving initiatives or changes in supplier contracts, by showing the net effect on total spend.

 

Spend Analytics Dashboards

A spend analytics dashboard is a dashboard that visualizes sets of spend data into charts for the purpose of analysis. Datasets are selected based on predefined parameters, business targets, or KPIs.

The benefit of a dashboard is an instant high-level view of spending. In this chapter, we will cover some basic spend analysis dashboards used in Sievo. 

 

Spend overview dashboard 

A Spend Overview Dashboard provides an overview of your spend performance by comparing data of one selected period to the previous one. In the example, the view is filtered by year-to-date and presents the data by three four aspects: category, organization, supplier, and supplier count.

With a dashboard like this, you can track the top suppliers by region, spend changes by category, purchase process developments, as well as supplier count developments.

A proper spend analytics dashboard should be interactive, meaning you can select and filter data directly on the charts. Depending on what your responsibilities are, you can use a spend analytics dashboard to gain insights to questions or goals in mind with just one click.

 

Supplier Performance

A Supplier Performance Dashboard visualizes key data for a specified supplier, offering a 360-degree perspective. It highlights analytics on the top supplier by spend ranking, providing transparency into purchases and payment terms across business units.

This overview allows you to compare suppliers, identify performance opportunities, and strategize meetings for renegotiating or ensuring compliance with better payment terms.

 

Category Performance

The Category Performance Dashboard visualizes key data for a selected category, showing spend distribution, purchase order development, material price trends, and supplier sources. It offers valuable category management insights, helping to identify price opportunities, single-supplier risks, and track purchase order compliance. You can also drill down to assess purchase price developments at the lowest category level.

 

Supplier Base Performance

A Supplier Base Performance Dashboard lets you analyze your entire supplier base, track top and tail-spend suppliers, and identify consolidation opportunities to mitigate risks and create savings.

It is ideal for tail spend analysis and internal benchmarking, showing how fragmented or consolidated your supplier base is across different business units in a single category.

 

Sourcing Performance

A Sourcing Performance Dashboard shows from which regions your business units are sourcing and whether materials are sourced internationally or domestically. It helps assess regional risks and anticipate the impact of trade or geopolitical issues.

This dashboard is useful for managing regional risks and identifying savings in logistics by switching to geographically closer suppliers.

 

Process Performance

A Process Performance Dashboard highlights improvement areas for small POs/invoices, revealing potential savings by identifying suppliers with small value transactions. It shows category differences in invoice/PO quantities and amounts, helping to spot discrepancies between business units or suppliers for process optimization.

This dashboard is useful for analyzing invoice and PO counts, benchmarking average values, and streamlining the purchase process.

 

Price Performance

A Price Performance Dashboard analyzes price differences among suppliers, helping identify opportunities for negotiation or finding cheaper options. It provides global and regional insights into price ranges within specified categories, aiding in price discovery and supplier selection. This dashboard is useful when you want to discover the price range of your specified category.

 

Currency Performance

A Currency Performance Dashboard provides an overview of spend distribution in various currencies, highlighting categories or suppliers purchased using different currencies. It enhances transparency regarding risks, such as foreign exchange fluctuations. Filtering by category or supplier allows identification of materials or suppliers vulnerable to currency strengthening, aiding in proactive risk management.

 

Custom Dashboards

The ready-made charts in the Sievo dashboards can give you a great overview with only one click. But what if you cannot find one matching your goal in mind?

What you will need is a Custom Dashboard, where you can mix and match any dimension, measure, and chart type for any report you need and slice and dice with any data point you want. This is especially useful for your presentations. The image below shows how Sievo's Self Service Craftboard allows you to build reports to meet your specific needs.  

Example of Sievo’s Self Service Dashboard

 

Spend Analysis Tools

There are many tools available for analyzing procurement spend ranging from simple Excel Spreadsheets to advanced analytics software. Here you can find the summary of the pros and cons of each alternative.

Pros and Cons of Conducting Spend Analysis in Excel

Excel remains a widely used tool for conducting spend analysis in many organizations. Its accessibility and familiarity make it a go-to choice for analyzing spend data. While Excel can be a useful tool for basic analysis, it has significant limitations when it comes to handling large datasets, handling advanced procurement analytics, maintaining data accuracy, and delivering comprehensive insights.

Small-medium size organisations may conduct relatively successful analysis in excel, but large enterprises looking to scale their procurement analytics and improve efficiency should consider investing in dedicated spend analysis software. Why so? Let's explore the pros and cons of using Excel for spend analysis in detail:

Pros of Using Excel for Spend Analysis

Accessibility and Familiarity

Excel is a readily available tool in almost every organization. Most procurement professionals are familiar with its interface and functionalities, making it easy to get started with spend analysis without the need for extensive training or additional software.

Flexibility

Excel offers flexibility in terms of data manipulation and customization. Users can build custom formulas, pivot tables, and charts to analyze their spend data in different ways. This allows for a tailored approach to spend analysis, accommodating specific business needs.

Cost-Effective

For small organizations or those with limited budgets, Excel provides a cost-effective solution for basic spend analysis. There's no need to invest in expensive spend management software, making it a practical option for companies with limited data and resources.

Custom Reporting

Excel allows users to create customized reports and visualizations, offering a degree of control over how data is presented. This can be beneficial for creating specific reports for stakeholders or executives.

Cons of Using Excel for Spend Analysis

 

Scalability Issues

One of the major limitations of Excel is its inability to handle large datasets effectively. Spend analysis often requires processing thousands or even millions of rows of data, and Excel struggles to scale with such volumes. As the data size grows, performance issues such as slow processing and potential crashes become more common.

Manual Data Entry and Errors

Excel relies heavily on manual data entry, which increases the risk of human error. Even minor mistakes in formulas or data input can lead to inaccurate analysis and faulty decision-making. Manual processes also consume significant time and resources, reducing the efficiency of the spend analysis process.

Inconsistent Data and Classification

Spend data in Excel is often prone to inconsistencies, such as variations in supplier names, regional formatting differences, and data classification issues. Handling these discrepancies manually can be time-consuming and may result in overgeneralized or incorrect categorizations, impacting the accuracy of the analysis.

Lack of Automation

Unlike dedicated spend analysis tools that offer automated data cleansing, classification, and reporting, Excel requires repetitive manual processes for updating and analyzing data. This lack of automation means that procurement teams spend more time on administrative tasks rather than gaining actionable insights.

Limited Reporting and Analysis Capabilities

Excel's reporting capabilities are limited compared to specialized spend analysis platforms. While Excel can create basic visualizations, it lacks advanced features like real-time data updates, interactive dashboards, and the ability to slice and dice data in multiple ways. This limits the depth of analysis and the ability to generate comprehensive insights.

Data Security and Collaboration Challenges

Excel files are often shared through email or cloud storage services, raising concerns about data security and version control. Additionally, collaboration can be challenging when multiple stakeholders are involved, leading to issues such as conflicting file versions and miscommunication.

 

Pros and Cons of Using BI Tools for Spend Analysis

Business Intelligence (BI) tools are a type of application software used to collect, structure, and visualize large amounts of data. While BI tools are commonly used across various business functions, they are particularly effective for spend data analysis. These tools help organizations gain deep insights into their spending patterns, aligning expenditures effectively with revenue, and driving smarter procurement decisions. Here’s a detailed look at the pros and cons of using BI tools for spend analysis, incorporating insights on Total Cost of Ownership (TCO), implementation challenges, and procurement-specific requirements:

Pros of Using BI Tools for Spend Analysis

Enhanced Data Visualization

BI tools excel at creating interactive dashboards and visualizations, making it easy for procurement teams to analyze complex spend data. These tools help users quickly identify trends, spot inefficiencies, and uncover cost-saving opportunities.

Real-Time Data Processing

BI platforms process large datasets in real-time, enabling procurement professionals to work with the latest data. This allows for timely decision-making, which is crucial in responding to supplier performance or market shifts.

Scalability and Flexibility

BI tools are scalable, accommodating the growing data needs of organizations of all sizes. They provide flexibility by allowing users to customize dashboards and reports based on specific procurement needs, which helps in tailoring analysis to different stakeholders.

Integration with Other Systems

BI tools can integrate with other enterprise systems, such as ERP and CRM platforms, to create a more comprehensive view of procurement data. This integration helps in pulling data from multiple sources for more holistic spend analysis.

Cons of Using BI Tools for Spend Analysis

Limited Procurement-Specific Features

While BI tools offer broad data analysis capabilities, they lack the procurement-specific functionalities found in dedicated spend analytics platforms. Dedicated spend analysis solutions come with pre-built features and procurement-specific metrics that BI tools do not natively support​.

Higher Total Cost of Ownership (TCO)

BI tools can have a high total cost of ownership. This includes software licensing fees, customization costs, infrastructure investments, and ongoing support and training. For organizations with complex procurement needs, these costs can quickly add up. The TCO can be higher than expected, particularly if multiple tools are required to manage different aspects of spend analysis.

Longer Time to Value

One of the major challenges with using BI tools for spend analysis is the longer time to value. Implementing and customizing BI tools to handle procurement-specific data often takes significant time and development resources. This delays the realization of cost savings and efficiency improvements, resulting in missed opportunities as organizations wait for full spend visibility and actionable insights.

Customization and Configuration Challenges

While BI tools are flexible, they often require extensive customization to meet the unique needs of procurement teams. Configuring dashboards, creating procurement-specific reports, and structuring data for spend analysis can be time-consuming and resource-intensive. This complexity can delay the deployment of effective procurement analytics compared to pre-configured spend analysis solutions.

Security and Data Privacy Concerns

The handling of sensitive procurement data in BI tools, particularly cloud-based ones, can raise security and privacy concerns. Proper encryption, access controls, and compliance measures are necessary to protect against data breaches, adding to the overall cost and complexity of using BI tools.

Complexity in Data Interpretation

BI tools provide significant flexibility, but this can also lead to variability in how data is interpreted. Different users may draw different conclusions from the same data, leading to inconsistencies in decision-making across the organization. Without standardized procurement data management processes, this flexibility can create challenges in maintaining alignment.

Lack of Procurement-Specific R&D and Innovation

BI tools have limitations when applied to procurement-specific use-cases. The lack of procurement-specific features make BI tools less suitable for more complex procurement environments and larger enterprises. Specialized procurement analytics providers, like Sievo, are continually innovating and collaborating with the industry-leading procurement teams and third-party data providers to enhance their procurement analysis capabilities. BI tools typically do not have the same level of focus or investment in procurement R&D, which can limit their effectiveness for advanced spend analytics.

Spend Analysis Software

Spend analysis software is a specialized tool designed to help procurement teams gain a deep understanding of their organization's spending patterns. By consolidating data from various sources, such as ERP systems, Purchase-to-Pay suites, and 3rd party datasets, spend analysis platforms provide procurement teams with actionable insights that go beyond what can be achieved with Excel or general Business Intelligence (BI) tools.

Sievo Spend Analytics ranked as a top business value enabler by SpendMatters!

Spend analysis software is particularly beneficial for large enterprises with complex procurement needs, offering advanced analytics, safe integrations, faster time to value, user training, and procurement-specific R&D and innovation capabilities. However, for smaller organizations, the higher costs and complexity may be less practical, and lighter solutions like Excel or BI tools might be a better fit until their procurement needs grow to a larger scale. Next, we outline the pros and cons of spend analytics software:

Pros of Using Spend Analysis Software

Enhanced Data Visualization

Like BI tools, spend analysis software excels in data visualization, providing procurement teams with holistic view and interactive dashboards. However, spend analysis platforms take this further by offering procurement-specific features, dashboards, insights, and AI assistance, making it easier for users to identify trends and opportunities.

High Classification Coverage and Accuracy

Similar to BI tools, spend analysis software offers real-time data processing, ensuring that procurement teams have access to the most up-to-date information. However, the advantage of dedicated spend analysis software lies in its ability to automatically cleanse and classify procurement data, reducing the time and effort needed to prepare data for analysis, and enabling faster, more accurate insights.

 

Procurement-Specific R&D and Insights

Spend analysis software providers, such as Sievo, invest heavily in procurement-specific research and development. This R&D focus ensures that these platforms stay at the cutting edge of procurement analytics, offering features that address the unique challenges of procurement, such as supplier risk management and Scope 3. In contrast, BI tools and Excel lack this level of specialization, making spend analysis software the better choice for procurement organizations that want to outperform their peers.

Unlike Excel and BI tools, spend analysis software comes with built-in procurement-specific use-cases and actionable recommendations. These platforms are designed to handle complex procurement data, automate categorization, and provide AI-driven insights. For example, spend analysis software can automatically identify cost-saving opportunities, monitor contract compliance, and consolidate contracted spend, all of which are critical for large enterprises managing complex procurement operations.

 

Scalability and Flexibility

Spend analysis software offers greater scalability than Excel and more flexibility than generic BI tools. These platforms are designed to handle the complexities of large-scale procurement environments, processing massive amounts of spend data from multiple sources without performance decrease. Spend analysis software provides advanced module options tailored to procurement needs and use-cases, such as CO2 Analytics, that go beyond the capabilities of BI tools.

Faster Time to Value

Spend analysis software typically offers faster time to value compared to Excel and BI tools, as it comes pre-configured with procurement-specific features. This means less time spent on customization and more immediate access to actionable insights. For large enterprises, this faster time to value translates to quicker realization of cost savings and improved procurement performance.

 

Community Learning and Collaboration

Leading spend analytics providers have wide communities of global users and they offer training and learning resources for their customers. This collaboration often extends to joint product development, where clients can influence the roadmap of the software enhancements based on their needs and challenges. This level of community learning and collaboration ensures that the software evolves in line with the needs of large enterprises, offering cutting-edge features that go beyond the capabilities of general-purpose tools like Excel and BI platforms.

 

Advanced Data Security and Compliance

While BI tools offer robust data security measures, spend analysis software is specifically designed to handle sensitive data and ensure compliance with regulations. These platforms offer advanced security features, such as data encryption, role-based access control, and audit trails, which are essential for large enterprises managing global procurement operations.

Cons of Using Spend Analysis Software

Not Always Suitable for Small and Medium-Sized Enterprises (SMEs)

The advanced features and capabilities of spend analysis software come at a premium, making these platforms less accessible for organizations with more limited budget. The cost associated with implementing these platforms can be too high for SMEs, which may not have the volume of data or budget to justify the investment. In these cases, lighter-weight solutions like Excel or BI tools may be more appropriate. For large organizations, the investment in spend analysis software quickly pays off in efficiencies and realized savings, however. 

Seemingly Limited Customization

While spend analysis software offers extensive features tailored to procurement, customization may be limited compared to the full flexibility of Excel or BI tools. However, leading provider Sievo addresses this limitation by offering tools like Craftboards and self-service dashboards, which empower users to create the specific views and reports they need for their business cases. These features provide a level of customization while maintaining the structure and stability of a dedicated platform.

 

Conclusion on Spend Analytics tool choice

Spend analysis software offers significant advantages over Excel and BI tools, particularly for large enterprises with more complex needs. With features like procurement-specific analytics, faster time to value, and dedicated R&D, these platforms enable organizations to optimize their strategies and drive 360 cost savings.

Leading providers like Sievo stand out in the market with extensive industry experience, year-after-year industry recognition, and commitment to joint-innovation with top enterprise clients. However, for smaller organizations, advanced features and depth of insights may not be mandatory elements, and lighter solutions like Excel or BI tools might be a better fit until their procurement needs and ambition level grow to a larger scale.

About Sievo

 

We are the procurement analytics solution for data-driven enterprises. 

We give procurement, finance, and leadership teams a single source of truth and radical transparency in all sourcing decisions. Our solution helps you choose the right suppliers, deliver savings and manage compliance with confidence. Not only that, we enable a sustainable, diverse, and resilient supply base.

We master the art of extracting, classifying, and enriching data across all ERPs, procurement systems, and external data sources, saving your valuable time.

Simply put, we’re pretty damn good at turning even the crappiest data into actionable insights!

We’ve pushed the boundaries of spend analytics for two decades – and we’re just getting started. We bridge the data-to-action gap and power agile procurement by combining AI with procurement expertise. 

Procurement organizations need an analytics partner they can trust. We’re large enough to deliver, small enough to care