Spendata: Vendor Analysis — Spend analysis solution overview, roadmap, competitors, user considerations, analyst summary

This Spend Matters Vendor Analysis provides an overview of Spendata and its spend analysis solution.

There are two views you can take on spend analysis. The modern view believes in centralizing all data in a data warehouse, a business intelligence (BI) tool or a spend analysis tool with a standardized hierarchy. Only with one view into a single version of the truth can any spend-related progress be made. This is a fool’s errand. No single hierarchical structure can represent the multi-variate richness of spend and supply data that category managers need to extract value. 

Then, there is the postmodern view that places success on appropriately acting on whatever data you can get, whenever you can get it and in whatever format. Any intelligence is better than no intelligence, and any savings or value you can identify today is worth more than the hypothetical better savings that you might identify next week, month, quarter or year, the most likely timeframe for agreeing on a common schema and collecting, categorizing, cleansing and enriching all your organization’s data. More data may identify bigger opportunities, but waiting to pursue opportunities available today until you have all that data is often not the wise thing to do.

Spendata adopts the latter view of immediately using any data at hand. This includes situations in which the practitioner already has access to an enterprise data warehouse or BI solution. The data does not always get into that solution right away, and even if it does, the data warehouse or business intelligence solution’s schema will not always support the type of analysis the practitioner requires.

This Vendor Analysis explores Spendata’s platform, application and supporting services and gives a competitive market analysis, complete with key analyst takeaways.  

Here’s why Spendata matters:

• To the market — Spendata is a unique, browser-based platform that provides true, deep spend analysis to data analysts. Because it does not store any client data in servers and all data remains on client machines, it is ideal for organizations concerned with data privacy.
• To potential buyers — Spendata provides a fully customizable platform with true data analysis capabilities. End users can build their own dimensions, measures and views quickly at any time, filter and map those at will, and build custom reports from any dimension.