It’s generally accepted that in most organizations procurement functions guide the vast majority of spend. However, equally as accepted is that the discretionary budget of the CPO is lacking when compared to other departments. For this reason it’s important to ensure high levels of performance for the spend which is under direct control. Robust spend analysis reports and tools are key to achieving these high levels of performance.
In a recent expansion of our spend analysis offerings, we at Tungsten Network have launched a free edition, aimed at giving businesses more visibility into their finances. This free version enables Buyers to gain line level data from already processed invoices. But Tungsten doesn’t stop there. We also provide upgraded versions that provide:
- More detailed information on price variances
- A typical annual savings of 1-4% of total spend
- Identification of incorrectly allocated tax
Tungsten Network Analytics provides the comprehensive spend analysis reports necessary to regain control of your company spend. Discover more benefits of transacting business on the network by downloading this informative Category Insight.