SpendTrends Information

SpendTrends helps companies leverage spend Invoices to improve bottom line: SpendTrends Share-of-Wallet business intelligence service (Service) helps businesses both save money on their indirect spend and generate revenue for enterprise businesses off their indirect spend invoices. The Service automates spend analysis and enables data-driven, standardized, indirect procurement operations. SpendTrends extracts individual invoice line items (SKU) data, transforms that data into a standard industry product and/or service family and item code structure taxonomy, and enriches the SKU with price sensitive attributes. Using the standardized taxonomy and attributes coupled with the invoice data generated by SpendTrends, the Procuring Enterprise gains precise insight into: • How much has been spent • On which products and services (at a SKU level) • From which Brand Producers and Sellers • Uncontrolled maverick off-contract spend at higher prices • Opportunities for Centralize procurement function to leverage volume for better pricing • Opportunities to reduce costs through product/service standardization • Add revenues by relicensing data as share of wallet to Brand Producers and Sellers