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Everything You Always Wanted To Know About Your Spend Data

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Published:  November 16, 2017
Access Level:   Free
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In this briefing paper we take a look at how spend analytics can help organisations answer some of those tricky or complex questions relating to procurement expenditure. Some of those questions could be construed as somewhat ‘embarrassing,’ like ‘How much fraud and corruption really goes on in my organisation,’ which is why we based the paper’s theme loosely on the very funny 1972 Woody Allen film of a similar name.

However, we are not really suggesting organisations are truly “afraid” of the answers to these questions, rather that extracting the right information to get to the bottom of them is difficult, or that lack of understanding of what is possible prevents smart and creative use of the source data. The possibilities of achieving value from spend data are developing all the time, and artificial intelligence and machine learning are helping organisations to extract even more useful information from that data. So we look at the opportunities in this area, and the pitfalls to be aware of.

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