Struggling with Monitoring & Analysing Procurement Spend?

Charlotte Sutton
Charlotte Sutton,
Managers throughout an organisation need to have a handle on what is being bought, from who, and at what volume in order to effectively manage their functions and budgets. Procurement professionals need accurate information for strategic activities such as supplier negotiations and supplier consolidation initiatives.
But in most organisations, procurement involves a tremendous number of transactions, each of which goes through multiple stages with multiple individuals ranging from employees to managers and buyers.  Hundreds of suppliers may be involved across thousands of different items. Even when all of this detail activity is captured electronically, people need a way to turn all of this ‘data’ into the ‘information’ they need to perform their respective functions. And busy managers need a way of keeping a handle on all this activity with reports, alerts, and KPIs that are appropriate to their respective roles.
What is needed is a base of procurement information that contains the details of all procurement activity combined with tools that makes it easy to:
  • Create virtually any summarisation or KPI that is needed
  • Drill-down from summary reports to detail transactions whenever necessary
  • Enable procurement professionals to analyse spend across any time period, supplier group, or commodity in order to continually improve the supplier base and supplier agreements
  • Enable managers throughout the organisation to identify the information which is most important to them within their span of control and have it at their fingertips at all times
The benefit of a best-in-class eProcurement platform like PROACTIS is it captures every procurement transaction, as well as the details about every supplier, contract, and item. The eProcurement system also provides powerful tools that make it easy to create, publish, and access virtually any form of summary or detail report with instant drill-down to the lowest level of detail.
As a fully electronic procurement system, PROACTIS maintains extensive information about past, present, and future purchasing activity.  This includes:
  • Full ‘cost pipeline’ visibility for better management decision-making
  • Full commitment information for better fund management
  • Contract and volume information for better price and service negotiation
  • Workflow information for business process improvement and visibility
  • Spend analysis by requestor, source and category
Personalised dashboards, flexible reporting tools, and powerful drill-down capabilities give managers easy access to this information for analysis and decision-making purposes.
Regardless of how complicated the ERP and financial systems infrastructure is, or whether you operate across geographically dispersed locations, multiple business units, or operations in multiple countries, PROACTIS provides the necessary financial oversight and reporting/analysis to support your procurement initiatives.
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