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(I-SoftwareNews.Com, June 22, 2018 ) Spend Analytics is the process of collecting, combining, refining, sorting, and analyzing spend data in order to improve efficiency, trim down procurement cost and monitor supplier compliance. On average, business leaders have visibility of only half of their overall spending. Companies carry out spend analysis for various reasons. The core business driver for most organizations is productivity or profitability.
Spend Analytics Market Focuses On The Top Players
• SAP
• SAS
• IBM Corporation
• Oracle
• Coupa Software
• Zycus
• Proactis
• Empronc Solutions
• JAGGAER
• Rosslyn Analytics
• Ivalua
• BravoSolution SPA
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Market segment by Type, the product can be split into
• Predictive
• Prescriptive
• Descriptive
Market segment by Application, Spend Analytics can be split into
• Financial management
• Risk management
• Governance and compliance management
• Supplier sourcing and performance management
• Demand and supply forecasting
• Others
Market segment by Regions/Countries, this report covers
United States
EU
Japan
China
India
Southeast Asia
In addition to improving compliance and cutting cycle times, performing spend analysis assists companies to discover new ways of savings that earlier went untapped, and keep a hold on past areas of savings which they have already managed. On average, companies and leaders have visibility of only 50% of their overall spending. It can also be provided in other areas of business like product development, inventory management, and budgeting and planning. Spend analysis is frequently considered as part of a bigger domain known as spend management which integrates spend analysis, strategic sourcing and product management. Transparency, analysis and process these are the three core areas of spend analysis.
Currently there are number of service providers in market which carry out spend analysis. The common methodology used while carrying out follows; Data aggregation, Data cleansing, Supplier grouping, Item classification and Spend analysis. Spend analytics is a great way to identifying savings, however you require to constantly update your data to make sure that contract provisions are being bonded to, that buyers are purchasing from chosen suppliers and that savings opportunities are being recognized. The market driving factors are increasing awareness of cost control in various industries, outsourcing of finance related work in large to medium industries. For some small-scale companies, the restraining factors are Supplier and spend data exists in multiple, disconnected system, poor quality of data, lack of IT support and systems, lack of analytical resources, lack of spend management methodology.
Table of Contents –
Global Spend Analytics Market Size, Status and Forecast 2025
1 Industry Overview of Spend Analytics
2 Global Spend Analytics Competition Analysis by Players
3 Company (Top Players) Profiles
4 Global Spend Analytics Market Size by Type and Application (2013-2018)
5 United States Spend Analytics Development Status and Outlook
6 EU Spend Analytics Development Status and Outlook
7 Japan Spend Analytics Development Status and Outlook
8 China Spend Analytics Development Status and Outlook
9 India Spend Analytics Development Status and Outlook
10 Southeast Asia Spend Analytics Development Status and Outlook
11 Market Forecast by Regions, Type and Application (2018-2025)
12 Spend Analytics Market Dynamics
13 Market Effect Factors Analysis
14 Research Finding/Conclusion
15 Appendix
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