The rise of procurement analytics continues to be one of the major trends in IT and business.
Procurement analytics is on the ascendancy because it has become increasingly important to improve internal collaboration in order to make decisions that ultimately mitigate risk and impact the bottom line. Many organizations are looking to improve their analytical insights into corporate spend, sourcing, supplier profiling, scorecards and contract management activities.
It’s essential to understand how to leverage myriad sources of data—commonly referred to as “Big Data” — as part of a procurement analytics strategy that has become a more significant trend. The goal is to save more, improve efficiency and monitor compliance through implementing innovative technology that provides procurement executives with actionable insights.
In this whitepaper, you’ll learn how analytics can help align procurement with corporate goals through data.
- Applying business intelligence to increase savings and reduce risk
- Harnessing the power of multiple data streams through aggregation
- Integration, usability and user support models that improve adoption
With Big Data getting bigger all the time, the sooner you deploy a robust procurement analytics function, the faster you can leverage that data to increase savings, mitigated risk and improve workflow. Download the whitepaper today.