SpendInsight

SpendInsight offers spend and business intelligence for companies to power them towards better procurement strategies. Engineered in partnership with two of the UK’s leading universities, SpendInsight represents a significant step forward in the ‘tool set’ of the procurement professional.

It offers a spend analysis report in just seven days upon users uploading their raw data to the cloudBuy artificial intelligence tool, and a completed data pack will be returned to them. The data pack highlights:

• Price Variance - where the same item is bought at multiple prices.
• Off-contract spend.
• Better deals through using pre-tendered contracts.
• Cheaper products that are functionally equivalent.
• Product benchmark pricing (if data is agreed to be shared anonymously).
• Offer for hiring a data analyst for a month or run SpendInsight – which will produce greater savings opportunities.

The data pack is given to businesses allowing them to transform data into management information.The pack shows areas for potential savings and allows businesses to drill down by commodity or service right back to the original purchase order for checking.   

For public sector buyers, SpendInsight is available on National Frameworks through OGC Buying Solutions and G-Cloud.  It is highly secure and can scale to deal with the data of large and multi national organisations.