Procurement Spend Management

Procurement spend management is the aspect of spend management that deals in collection, classification and communication of the product and supplier related data of an organization. Procurement spend management provides for benefits as accountability for indirect expenses on goods and services and calculation of returns on expenses is made.

Procurement spend data management is carried out in the following company related horizons:

  • Suppliers- Under this category, the date provided is analyzed for duplicate entries, supplier classification and calculation of average incomes gained from each supplier.
  • Expenditure- Under this category, we define the total amount associated with each product through a percentage of the total amount spent.
  • Invoices- Under this category, all the expenditure data is counter-checked with the invoices generated respectively to rule out double counting.
  • Location- Under this category, data is examined to define the supplier’s regional and metropolitan areas and to classify the data under the same.

Procurement Spend Management: Process and solution

SoftNis, one of the Leading Procurement Spend Management Company provide you with efficient and affordable services for Procurement spend data transformation and provide a reliable source among the industry leaders. Our work process has been classified under the following heads:

  • Input analysis

    Under this aspect, we thoroughly analyze the information handed over from the client and make identifications in areas related to company’s expenses on goods and services.

  • Spend Data Cleansing and Standardization:

    Next, we move on to data cleansing and standardization of the entire product range and supplier as well as manufacturing-related information. We at SoftNis understand the common errors within product database since each company faces its own set of challenges and common mistakes. READMORE…>>

  • Product Commodity Classification

    All the product ranges are tried to classify at the commodity level using the classification tool like UNSPSC. United Nations Standard Products and Service Code is a products and services classification for use in e-commerce and Spend Management activities. READMORE…>>

  • Supplier Manufacture Classification

    Both supplier and manufactures classification aspects are taken care of with the use of tools like UNSPSC. The categorization of suppliers/manufactures into strategically important and critical suppliers/manufactures that have a say in your business, you need to make the difference evident and have to state them in formal terms. READMORE…>>

  • Report Generation

    After data assortment and classification, we move on to data reporting that involves an examination of all the information. We make use of the pivot table facility in the MS Excel for the same.

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