Spend Analytics – the Next Generation

We are rapidly approaching the first of this year’s BravoSolution Real World Sourcing workshops on March 11th with me leading on Spend Analytics – the Next Generation.

I’m going to cover in effect three phases or eras of analytics. I will be giving a brief overview of “traditional” spend analytics – some revision really, to make sure everyone understands what we might call the “traditional” processes, uses and benefits of spend analysis. (And let’s be blunt, not everyone or every organisation is even at this point yet).

Then, the heart of the session is going to look at three or four current areas where analytics is making a difference and opening up new opportunities. One is around risk and supplier management, which means bringing in other data sources to augment and amplify “traditional” spend analytics. The second is fascinating. It considers how we can combine both benchmarking across organisations and performance data (that means supplier or product performance data) with analytics to see not only how much we are spending, on what, with whom and so on, but also to begin looking at just how effective that spend is.

We’ll have a view from the frontline of the NHS on that too – a sector where that sort of analysis is just beginning to show its worth, and has the potential (without being corny here) to genuinely save lives as well as taxpayers' money.

Then we will have a look at fraud, and how big data and spend analytics can help us detect potential and actual fraud. This is a favourite topic of mine. I just find the different methods and approaches to fraud and corruption fascinating, both the creativity sometimes shown by the fraudster and that analytical side of how we can protect our organisations against such actions. Good processes can make it much harder for fraud to happen in the first place; and good analytics can help detect it if it does happen.

There are literally just a handful of places left for the event in March, held in the City of London, so book now. The small fee is to try and make sure people turn up, and as well as making a small contribution to what will be a very good lunch I’m sure, it goes towards the BravoSolution scholarship (worth £2,500) for the top scorer through 2015 on our post event “tests.”

So to recap: you can book for Spend analytics - The Next Generation here, at the Jugged Hare restaurant (in a private room called The Josephine Room) starting at 11am on March 11th and running through to 2.30pm-ish, with lunch and networking included. See you there!

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