{"id":2876,"date":"2010-05-19T20:23:00","date_gmt":"2010-05-19T20:23:00","guid":{"rendered":"https:\/\/www.certitrek.com\/nlpa\/2010\/05\/19\/whitepaper-wednesday-advanced-spend-visibility\/"},"modified":"2021-07-27T08:23:26","modified_gmt":"2021-07-27T12:23:26","slug":"whitepaper-wednesday-advanced-spend-visibility","status":"publish","type":"post","link":"https:\/\/www.certitrek.com\/nlpa\/blog\/whitepaper-wednesday-advanced-spend-visibility\/","title":{"rendered":"Whitepaper Wednesday &#8211; Advanced Spend Visibility"},"content":{"rendered":"<p>Welcome back to another installment of Whitepaper Wednesday here on the Purchasing Certification Blog. This week, I\u2019ll be reviewing a whitepaper entitled \u201cBeyond the Basics: Using Spend Visibility to Drive More Than Category Sourcing Strategies and Spend Reporting\u201d from Spend Matters.<\/p>\n<p>Don\u2019t miss updates on Procurement &amp; Supply Chain, Subscribe here!<\/p>\n<p>The #1 question on my mind after reading this title was \u201cOK \u2013 what else will we be doing with spend visibility technology in the future?\u201d<\/p>\n<p>If you\u2019re a get-to-the-point person like me, you\u2019re probably wondering the same thing. So let me just give you the quick answer to that question instead of digging into the details, which the whitepaper does quite eloquently:<\/p>\n<ul>\n<li>Using mashups to draw a virtually unlimited number of conclusions ranging from how a supplier\u2019s quality compares across multiple facilities to how actual pricing changes compare with market movements.<\/li>\n<li>Monitoring internal contract compliance in real-time.<\/li>\n<li>Identifying supply risk sooner thanks to integration with external systems that track the same suppliers that you do.<\/li>\n<\/ul>\n<p>The whitepaper gives many details on these three functions \u2013 and a fourth that, despite the title of the whitepaper, deals with developing a sourcing strategy \u2013 so I won\u2019t repeat them here.<\/p>\n<p>One of the parts of the whitepaper I found particularly interesting was its description of the changes in the technology on which spend visibility solutions are built. A major one is a shift from using data cleansing as a technology that transforms and combines data from separate systems into a new system to a technology that \u201ccan search hundreds (or more) disparate sources while normalizing, classifying and cleansing information at the point of query.\u201d Through implementation of this idea, the new approach will \u201callow users to integrate new information sources in an often simple and rapid manner (vs. requiring underlying surgery, as it would in a database or data warehousing-centric approach).\u201d<\/p>\n<p>Sounds interesting, although I still think that we\u2019ll see users continuing to be \u201cdistrustful of \u2018black box\u2019 approaches to gathering and analyzing spend data.\u201d<\/p>\n<p>This whitepaper is an 11-pager. So I am only covering a portion of it here. If you want to dig deeper into the details for the topics I\u2019ve mentioned here \u2013 or some topics that I haven\u2019t, such as the whitepaper\u2019s eight thoughtful recommendations \u2013 you can download your own copy of the whitepaper from Spend Matters (registration required).<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Welcome back to another installment of Whitepaper Wednesday here on [&hellip;]<\/p>\n","protected":false},"author":12,"featured_media":4065,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-2876","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-procurement"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v19.4 (Yoast SEO v19.13) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Whitepaper Wednesday - Advanced Spend Visibility - Next Level Purchasing Association (NLPA)<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.certitrek.com\/nlpa\/blog\/whitepaper-wednesday-advanced-spend-visibility\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Whitepaper Wednesday - Advanced Spend Visibility\" \/>\n<meta property=\"og:description\" content=\"Welcome back to another installment of Whitepaper Wednesday here on [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.certitrek.com\/nlpa\/blog\/whitepaper-wednesday-advanced-spend-visibility\/\" \/>\n<meta property=\"og:site_name\" content=\"Next Level Purchasing Association (NLPA)\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/NextLevelPurchasing\/\" \/>\n<meta property=\"article:published_time\" content=\"2010-05-19T20:23:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-07-27T12:23:26+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.certitrek.com\/nlpa\/wp-content\/uploads\/sites\/5\/2020\/11\/nlpa-images-075.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1348\" \/>\n\t<meta property=\"og:image:height\" content=\"1600\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Galo Matagay\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@nextlevelpurch\" \/>\n<meta name=\"twitter:site\" content=\"@nextlevelpurch\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Galo Matagay\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.certitrek.com\/nlpa\/blog\/whitepaper-wednesday-advanced-spend-visibility\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.certitrek.com\/nlpa\/blog\/whitepaper-wednesday-advanced-spend-visibility\/\"},\"author\":{\"name\":\"Galo Matagay\",\"@id\":\"https:\/\/www.certitrek.com\/nlpa\/#\/schema\/person\/72d094fab77892483dfa6e061cb27eaa\"},\"headline\":\"Whitepaper Wednesday &#8211; 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