This is a subset of broader procurement and supply chain analytics, but is a critical component of a complete procurement solution suite. Spend Analytics provides a single view into all supplier spending (historical and planned/predicted) in order to improve that spending through better sourcing, compliance, and demand management. Providers offer tools for data modeling, aggregation, classification, enrichment, normalization, integration (to internal systems and external big data), workflow, visualization, discovery, prediction, alerting, and other areas that help find value in the spend data -- and the key drivers of that spend across various spend categories and processes (e.g., financial planning and budgeting).
Not all procurement organizations are equal. SolutionMap buying personas reflect different organizational needs tied to the unique value propositions served by a provider. Be sure to select the buying persona that most accurately reflects your organization as the SolutionMap provider rankings vary based on weighted requirements by persona.
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Reading the Ranking Chart
The color of the provider ‘bubble’ indicates the number of submitted customer references with dark purple being best.
The size of the provider ‘bubble’ indicates their number of customers.
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