{"id":2727,"date":"2009-07-21T18:30:00","date_gmt":"2009-07-21T18:30:00","guid":{"rendered":"https:\/\/www.certitrek.com\/nlpa\/2009\/07\/21\/purchasings-guide-to-spend-analysis\/"},"modified":"2023-04-22T13:44:46","modified_gmt":"2023-04-22T17:44:46","slug":"purchasings-guide-to-spend-analysis","status":"publish","type":"post","link":"https:\/\/www.certitrek.com\/nlpa\/blog\/purchasings-guide-to-spend-analysis\/","title":{"rendered":"Purchasing’s Guide To Spend Analysis"},"content":{"rendered":"

Spend analysis<\/a> is an essential component of procurement and purchasing. It refers to the process of collecting, categorizing, and analyzing an organization’s spending data to identify opportunities for cost savings, process improvements, and compliance with regulatory requirements. Spend analysis technology offers a range of features such as data visualization, supplier performance tracking, and predictive analytics to help organizations better understand their spending patterns.<\/p>\n

Purchasing Magazine<\/em> recently did something I wish they\u2019d do more of taking a look at one sector and listing information about the major vendors in that space. In this particular instance, the space that Purchasing examined was spend analysis technology in \u201cPurchasing\u2019s Guide To Spend Analysis<\/a>.\u201d\u00a0It offers a valuable resource for procurement and purchasing professionals looking to evaluate different spend analysis technologies, but a deeper analysis and pricing information would further enhance its usefulness.<\/p>\n

In this Guide, Purchasing identifies over a dozen providers of spend analysis technologies, gives a bullet-point list of each vendor\u2019s key features, and includes a \u201csupplier claim.\u201d One exercise in apparent futility was having a \u201cpricing\u201d field. All the vendors withheld their pricing, listing something like \u201cannual subscription fee\u201d or \u201cfee is based on a number of users\u201d or something else that is of no value whatsoever to the reader.<\/p>\n

I definitely give Purchasing kudos for making this Guide available. I hope that they continue to offer such resources, which their readers will surely find to be useful. They will be even more useful if they offer a deeper analysis of the various solutions (possibly with a one- to five-star rating scale or a capabilities checklist\/table) and force the vendors to give pricing, at least on some type of \u201ctypical pricing range for a company with $1B in annual revenue and 75 users\u201d basis.<\/p>\n

Become a member of one of the world\u2019s largest procurement associations today.<\/a><\/p>\n

Recommended Reading<\/strong><\/p>\n