Sievo is a leading Procurement Performance Management player that offers Spend Management solution through it’s SaaS software modular solutions: Spend Analysis, Savings Program Management, Spend Budgeting & Forecasting and Procurement Controlling.
Sievo’s Spend Management solution provides an integrated solution to capture & structure data points from variety of sources to create competitive advantage:
- Source-to-screen approach to create transparency on spend data based on data in source systems;
- Supplier web upload services to collect data from key suppliers, typically to create transparency on strategic categories where you only have header data on spend;
- Scenario tools to identify opportunities & manage risks;
- Highly intuitive user interface to capture savings projects;
- Integration to various market price sources to compare internal price development with market realities;
- Budgeting & forecasting tools featuring distributed data collection to create forecasts on prices, volumes & spend;
- In-built calculation technologies that isolate drivers of spend;
- Contract repository & capacity to link spend data with contracts for compliance management.
Sievo is a solution, a technology & also a methodology, Procurement Contribution to Financials, PCF© which allows to look not only from the Procurement side but also the Financial one. It contributes to build the bridge between Procurement & Financial. Spend Management solution of Sievo ensures that savings hit the bottom line.
- A core direct materials-focused spend analysis-like platform that extracts data out of source systems like SAP, normalizes it, and tracks information on the item or part level
- Targeted ERP integration capability to push/pull information and create a new source of master data (as required) as well as the ability to incorporate qualitative information (think “softer” supplier performance management-type KPIs for the procurement organization itself)
- Using this granularity of source-system data to enable savings tracking as different individuals need to see it to gauge performance (i.e., a way to identify and measure all of the components that lead to an actual price paid, using information like volume data, commodity market information, payment conditions/terms, exchange rates, order quantities, and specifications)
- Incorporating market indexes, rebate structures, baselines, currency rates, cost structures, dimensionality, target costing/pricing, budgets, and forecasts in this analysis
- Reporting capability to define and view specific savings tracking mechanisms and fields including price, market/commodity/index fluctuation, currency fluctuation, substitution, batch size, spend reduction, external, and realized on an aggregate and reported level (along with proactive alerts)
- Quickly viewing reports and drilling into a dashboard considering basic spend analysis metrics plus broader profitability, payment terms, compliance inventory, budgeting and forecasting and the like
- Exporting and copying information into documents, presentations, etc.