reports from our customers
Spend
Analysis KPIs
Cost reduction strategies with Advanced Spend Analysis
How Do
We Achieve This
Requirements & Sample Data
Obtain Sample data sets such as purchase orders, invoices, contracts, list of categories and similar. Understand exactly what are your objectives and what standards may already exist or you wish to get developed. Identify any pre-existing rules and data sets that can be leveraged for data Enrichment. Review, enrichment and analysis of the sample data to determine key issues and showcase the enrichment, standardization and Power BI enabled Spend Dashboards.
Classification & Categorization
Classify Spend into Categories and subcategories using UNSPSC or Customer provided categorization. Follow the Customer requirements and standards. Leverage our in-house developed Procurement Savings Tracker App for additional savings and contracts metrics.
Analysis & Insights
Identify top suppliers and categories that account for the majority of Spend and Savings potentials using 80/20 - Pareto Analysis. Examine spending patterns over time and evaluate supplier performance based on cost, quality, and delivery. Identify Savings Opportunities such as potential volume discounts and contract renegotiations. Review any of maverick spend, contract non-compliance and provide recommendations for improvements.
Dashboard & Reports
Use of our in-house developed Spend and Savings Power BI powered Dashboards for quick and easy visualization of all key metrics. Using Dashboards and Reports work with you to develop Strategies for spend reduction, enhanced supplier relationships, and management of risks. Implement a regular spend analysis update cycle as per the Customer needs to continuously monitor spend and supplier performance for ongoing improvements.
See some of our Power BI Spend Analytics below
partners
Trusted and Supported by Many
Join these Industry Leaders in Getting your Master Data Cleansed, Standardized and under Complete Control with our Innovative Solutions.
Schenck
Safran
Siemens
Helios
Frequently Asked Questions​
Isn't procurement spend analysis too complex and time-consuming?
While it may seem complex, modern tools like Power BI combined with some other specialized tools and our analysis service make the process efficient and user-friendly, providing quick insights without significant manual effort.
We already track our spending in Excel; why do we need a specialized analysis tool?
Specialized Spend Analysis tools provide deeper insights, automated categorization, and advanced analytics that go beyond basic tracking, uncovering hidden savings and optimization opportunities.
Our Spend data is too fragmented; how can spend analysis help?
Spend analysis tools such as ours combined with our Procurement Savings Tracker App can consolidate data from multiple sources, providing a unified view and helping to identify inconsistencies and opportunities across the organization.
How can we see immediate benefits from this investment?
We typically work in a multi-phase approach and aim to achieve quick wins and immediate improvements in data accuracy and operational efficiency very early on in the Project. Usually we approach everything first with a 80/20 Pareto Principle.
We have a tight budget; is investing in spend analysis worth it?
The ROI from spend analysis is substantial. By identifying cost-saving opportunities and improving procurement efficiency, the investment pays off quickly through direct savings and many other strategic procurement KPIs.
Our current processes are working fine; why change?
Even if current processes are functional, spend analysis can uncover hidden inefficiencies and opportunities for further savings and improvements, keeping you ahead of the competition.
Will our team need extensive training to use these tools?
Our spend analysis tools are designed to be user-friendly with intuitive interfaces. We engage with our Customers at the beginning of the project in order to capture your key requirements and objectives. Additionally, comprehensive training and support are usually provided to ensure smooth adoption.
Can spend analysis tools handle our unique industry requirements?
Yes, our solution is highly customizable to cater to specific industry needs, ensuring relevant insights and actionable recommendations tailored to your business.
Why do I need to categorize my materials for Spend Analysis?
Categorizing materials for spend analysis helps identify cost-saving opportunities, improve supplier management, and enhance budgeting accuracy. It is a crucial step on your Procurement Transformation journey and it will streamline many or your processes, and provide actionable insights for better decision-making and strategic sourcing.
our process
How It
Works
Intro Call and Sample Data Review
Our team will first do a quick call to understand your Business requirements. Then we will conduct a thorough requirements gathering process including some sample data collection related to the Scope. Sample data will then be analyzed, cleansed, enriched, categorized and standardized to get you a clear understanding what you will be getting as final deliverable.
Spend Categorization and Reports
Once the Client is happy with the Sample data analysis and enrichment process, we proceed with the rest of the process. First step is data categorization using UNSPSC, eclass or Client provided taxonomy. After that we push the data through our Procurement Savings Tracker App and develop all the agreed Power BI and other reports that will be made available to you and can then be periodically refreshed with updated spend data.
Power BI Reports and Insights
At the end of the Project, the Client reviews and signs off on the categorized Materials and created Power BI Reports confirming they all fully meet the requirements. You will also receive key spend insights and our recommendations about your Spend, for example: key categories to target, which categories are very risky for Vendor depth, where have you got maverick spend and similar.
Periodic Spend Data Refresh
Once your Power BI reports and Dashboards are set, you simply have to provide us with updated spend data periodically (for example quarterly) and we will in turn ensure that all the reports and Dashboards are up to date and you get our updated insights and recommendations. Most of our Customers use this service as a part of Procurement Savings Tracker App but this can also be offered as Standalone service.
Who We Are
Data
And
Process Experts
Etomix is a dynamic digital consulting agency that offers top-notch services, including business analysis, master data management, spend analytics and procurement savings tracking. Our in-house-built Procurement Savings Tracker Application enables clients to streamline operations and maximize savings. Our team delivers custom-tailored solutions from ideation to execution, exceeding client expectations.
We stay ahead in the fast-paced digital landscape by exploring new technologies and strategies to help clients stay competitive and profitable. Etomix is the trusted partner for optimizing processes, increasing ROI, and enhancing digital presence.
Â
