Spend Analytics has been part of the arsenal of e-procurement software available to procurement teams for many years. In its traditional form, information on a companies spend with its suppliers is obtained some time after the period being analyzed. Unfortunately, it often does not include the level of detail required for an in depth analysis, nor is it easy to manipulate or understand.
Tungsten Network Analytics provides a very different insight to that described above. Because the data being analyzed is taken directly from our e-invoicing network, Procurement Executives have access to real-time analytics. And because this is cloud-based, anyone from the buying organization can have access from their desk, tablet or mobile.
The level of detail available also differentiates Tungsten Analytics from traditional analytics. Data is taken directly from the invoice as it is processed by Tungsten and you are able to see line level information on each invoice. In other words, you can see exactly where and how your money is being spent, which is not the case if you are only reviewing category or supplier-level spend.
Benefits of Tungsten Analytics include:
The above are just some of the benefits you’ll realize with Tungsten Analytics. Download this whitepaper today to find out more!