Procurement Analytics provides Data-driven insight and power that procurement can leverage to make impactful business decisions.
- Need for automated tracking of goods and services procured and related costshold
- Data is integrated from purchase, inventory, finance and other departments.
- Solution tracks metrics like
- PO amount issued
- PO amount fulfilled
- Procurement by segment, by cost center, by department, by spend category
- Variance between planned and actual procurement by goods, by services, by capex, by opex,
- Top 10 vendors by on time fulfillment
- All above analyses across time periods,
- Transactional reports for phase-wise tracking viz., PO, GRN, Invoice, Payment etc.
- The solution also identifies fraudulent transactions as well as any reconciliation required.
- Elevated control on procurement budget and fulfillment schedule as well as enhanced vendor selection