With our Spend Cubes, our customers can identify savings opportunities and gain leverage with their suppliers through well-informed, consolidated category spend values.
The challenges that typically impact procurement analysis are normally caused by manual processes. Manually consolidating data from multiple sources leads to inconsistencies, manual data entry of supplier names introduces fragmentation of supplier spend, and inconsistent application of business rules increases category fragmentation. With Renegade Spend Cubes, all of these processes are automated, generating results that can be monitored for future business rule adjustments.
Our process starts with creating a single source of enterprise spend. All supplier and product names go through the same normalization process regardless of the source system’s terminology, nomenclature, or structure (Example: “A Bee Company”, “AB Co”, and “ABC” all are translated to “A Bee Company”). Our rules-based categorization process accurately groups spend at the lowest possible level of granularly and places the spend in a customized category structure that meets our customer’s specific business needs. The results are then reported in a format that is relevant to the purchasing team.
With the final tool in place, the procurement team can monitor supplier contract compliance, reduce buyer spot buys, and enforce budget compliance.
