PROACTIS, a global Spend Control and eProcurement solution provider, today announced the launch of PROACTIS Spend Analysis, an on-demand cloud spend analysis solution developed specifically to help executives achieve greater insight into organisation-wide compliance, risk, KPIs and other external factors that affect expenditure. The first customer to benefit from the solution is Bauer Media Group, Europe’s largest privately owned publishing group.
“Organisations are being confused by complex and unwieldy BI and Spend Analytics tools,” said Rod Jones, CEO, PROACTIS. “Old-fashioned tools require data experts to drive BI and build spend reports for management. Today, spend data needs to be rapid or it becomes irrelevant to decision-making. Users expect accurate data at their fingertips, and legacy BI doesn’t deliver this.”
“The new PROACTIS Spend Analysis solution exploits the latest cloud technologies to provide on-demand visibility of total combined spend; automatically classified and enriched. Analytics delivered through intelligent dashboards enable ‘slice and dice’ capability displayed on mobile devices. Customisable alerts enable users to identify where money is spent, negotiate better contracts with suppliers, and rein in maverick spending with confidence” continued Rod.
PROACTIS Spend Analysis developed on Microsoft Azure technology with NOSQL, provides a SaaS suite of solutions that can run 24/7. Functionality includes: Spend Data Repository, Spend Data Enrichment, Spend Analysis, Supplier Analysis, Compliance KPIs, Spend Notifications and Alerts.
Max Beddard, CFO at H Bauer, said "I can see using PROACTIS Spend Analysis will give immediate insight and visibility across our company-wide SAP and PROACTIS P2P solutions which will enable us to track our expenditure, fix issues, manage our processes and set priorities that will give us real benefits. The PROACTIS Spend Analysis solution delivers analytics from ‘live data’ enabling us to categorise spend and identify purchasing behaviours which will create savings. We are looking forward to the imminent release of ‘predictive’ analytics, which will potentially revolutionise the way we behave.”
The PROACTIS Spend Analysis solution will help Bauer Media to:
- Assess the company’s total combined spend and drill down to category, cost-centre, and invoice-level data
- Monitor largest categories of spend or areas where the largest savings can be most easily or quickly realised
- Spot trends across categories over time to discover and control maverick, off-contract, and non-PO-based spending
- Gain deeper insight into the supplier base, find sourcing opportunities within existing relationships, and identify risks in the supply base
- Monitor and analyse all transactions processed through AP
- Obtain actionable insight from customisable KPI notifications
PROACTIS Spend Analysis Solution Available On-Demand
The PROACTIS Spend Analysis solution enables customers to rapidly upload data from Accounts Payable, Purchase-to-Pay (P2P) and other ERP systems directly into the PROACTIS Cloud processing engine. There are no barriers on data size or complexity.
Data is automatically cleansed, normalised and enriched into a repository with variable customisable data sources to ensure data accuracy and high-quality. Categories of spend are classified automatically and company-specific taxonomies can be adopted.
Data is refreshed near/real-time with slicing, dicing, viewing, filtering, visualisation, and analysis of data on-demand.
The new PROACTIS Spend Analysis solution provides a unique focus into corporate spending.
Partnering with PROACTIS
PROACTIS are now seeking partners who are either active in this market or wish to build a practice in selling and supporting Spend Analysis.
Marketing Contact – Simon Dadswell
M: 078185 79013, T: 01937 800077
Partner Contact - Richard Northcote
M: 07890 963032