The Evolution of Spend Analysis and the Rise of Big Data

Spend analysis has always had the attention of an organization’s top management since it has such a direct impact on the productivity of the organization, the cost of finished product, the quality of products/services, and the organization’s competitiveness.

Today’s business model has changed to a global model. Although the globalization of business has opened up new opportunities for increased sales and profits, it has also created many challenges not experienced earlier.

Multi-national companies operate with big data in spend analysis, but managing this effectively requires user-friendly tools. The challenge lies in handling big data and using it to enhance business outcomes.

Read this whitepaper to understand the evolution of spend analysis, how analysis of procurement big data can result in improved decision making capabilities and the benefits of automatic spend analysis.