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, but it is not easy to handle big data without some user- friendly management tools. Handling of big data and leveraging it for the benefit of the business is a challenge.
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.