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:
- Insight to make better buying decisions – Leverage a unified view into company spending.
- Data is one thing, actionable insights another – Analyze invoice line-level data in real-time.
- Easy to get started – No data cleansing or data mapping. Be up and running in just 48 hours.
- Simple and secure – Nothing to install. Just easy-to-use, cloud-based software in a secure environment.
- Customized reports – Customized, real-time reporting. Define what you need.
- Insights anywhere – Accessible from desktop, tablets and mobile. Empowering busy decision makers and teams on the go.
The above are just some of the benefits you’ll realize with Tungsten Analytics. Download this whitepaper today to find out more!