Spend Analytics

Learn how our spending analytics experts can analyze your supply chain and provide you with valuable insight to optimize your supply chain.

Spend Analytics is the process of aggregating, cleansing, classifying, and analyzing corporate purchasing or spend data in order to reduce procurement costs, improve efficiency, and monitor supplier compliance. On average, corporate procurement leaders have visibility of only 50% of their overall spend.

The challenges regarding analyzing and optimizing spend include:

  • Supplier and spend data exists in multiple, disconnected systems
  • Poor quality of data
  • Lack of IT support and systems
  • Lack of analytical resources
  • Lack of spend management methodology

To improve spend analysis and positively impact corporate profitability, Corbus utilizes internally developed best practices perfected by our spend management experts and innovative technology solutions which help our clients consolidate and rationalize their corporate spend.

The Corbus Advantage

Direct spend vs indirect spend

Using our Spend Analytics Services, our clients gain strategic visibility into their corporate spend and gain:

  • Up to a 50% reduction in the total cost of procurement
  • Up to a 60% reduction in supplier lead time
  • Up to a 50% reduction in procurement Full-Time Equivalents (FTE)
  • Up to a 60% increase in orders processed by procurement FTE

Spend Analytics Services

Our senior procurement and spend analytics experts utilize best-in-class technologies and spend analytic tools to perform a comprehensive analysis of your company’s spend in order to develop a roadmap to optimize your procurement process. Our spend analytics methodology utilizes a multi-phase approach:

  • Data aggregation – identify, normalize and summarize spend data
  • Data cleansing – scrub incorrect, incomplete, improperly formatted, or duplicate spend and supplier data
  • Supplier grouping - organize suppliers by vendor classification
  • Item classification – identify a category for a particular product or service
  • Spend analytics - implement and automate spend reports and dashboards

Our Spend Analytics Services transforms procurement processes by optimizing the supply chain. Our clients gain strategic insights into:

  • Spend data visibility
  • Cost opportunities
  • Data-driven communications to leadership, stakeholders, team members, and suppliers using “predictive” solution approaches
  • Contract compliance
  • Contract analytics, payment analytics alongside traditional spend analysis solutions
  • Extended value of existing sourcing, procurement, and ERP technology investments

The Corbus Difference

  • A proven model, currently managing over $15B in spend annually
  • Spend analytics team with an average of 12 years of experience
  • Innovative technology and data analytics solutions
  • Category research teams with enhanced market, supplier, category, and geographical knowledge

Contact Corbus (corbusconnects@corbus.com or 888-608-9975) to reduce spending by implementing spend analytics.