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Tungsten Analytics – Insight From a New Approach to Spend Analytics

Spend Analytics is hardly a new idea. The first "spend cubes" were developed some 25 years ago, enabled by the growing power of distributed computing, as executives started realising what their new personal computers could do. That enabled forward-thinking procurement teams to apply computing power to obtain insightful information from data about the money organisations were spending with suppliers.

Fast-forward to today, and many organisations have barely moved on from that initial idea. Spend analysis information might be somewhat more detailed, and perhaps presented in a more attractive, graphical format, but it is still obtained some time after the end of the period being considered and is often not particularly granular, easy to manipulate or understand.

That being said, the latest developments in this field are challenging the traditional ways to conduct such analysis and are opening up different options in terms of how spend data can be used to identify valuable opportunities. Spend Matters interviewed Stefan Foryszewski from Tungsten Analytics to discuss how.

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