Disrupt the way traditional spend analysis is being conducted, make it more flexible, robust and customer centric.
InVie provides a full-service solution that combines procurement-focused spend analysis services with a customised BI solution that enables reliable and actionable insights into your spend so you can confidently derive savings. Our subject matter experts, who understand your procurement goals and pain points, are there to ensure that you are getting the best value out of the data.
Identify all the sources available for your spend data from all yours departments, plants and business units.
Gather and consolidate all your spend data into one central database and convert it into a standard format.
The next step is to clean your data, includes finding and fixing errors in descriptions, transactions and standardizing the data for easy viewing.
Group or Link your suppliers for better supplier management. You might have multiple suppliers that all share a parent company, so you'll want to aggregate those for increased purchasing power.
Determine where you are spending money. Office suppliers, Marketing, Travel, Legal and direct and indirect spending should all be categorized so that you can begin to develop a category strategy and drive additional savings.
Analyze your Spend Data.
This step is where you want to measure against some spend analysis key performance indicators to better understand how you're performing.
Continually update your data to ensure that everyone is adhering to contract terms, that buyers are purchasing from preferred suppliers, and that you are identifying saving opportunities.
We work with customer to understand the data landscape, identify the sources for transactional and master data. Various tools apart from ERPs, that are in silos and contributing to procurement decision. We collect data from each source/tool to provide best value.
Create a uniform schema across all the sources to attend a holistic transaction base. Preparation of master data file to access additional attributes for the transactions. For example: Currency conversion, Language translation and creation of metadata.
The data preparation (i.e. Data Eco System) includes Aggregation, Normalisation, Cleansing and joining of data. Identification data anomalies and reporting. At the end of this exercise, we create a Data Eco System reports to present the prelim finding of the data, anomalies and control totals.
To do better supplier management, suppliers need to be harmonized through deduplication of naming mismatches . This entails grouoing of multiple instances of suppliers recorded in differenct systems at different point of time. To increase purchaing leverage you might want to rollup to parent. This step will provide the visibility about the supplier landscape and how you are interacting with different entities though different purchasing organization.
Spend classification is the most critical step of spend analysis. The first step is to design best suited taxonomy for your organization. This could be industry standard taxonomy like UNSPSC, ECLASS, BUILDEPEDIA, GUDID base or hybrid procurement centric custom taxonomy for your organization. After defining a taxonomy we apply our state of art machine learning models to classify large set of data with high level of accuracy followed by detailed quality assurance by procuremnet SMEs to ensure that classifcation is as per business requirement.
We always tend to listen whether our service meeting business requirement, we conduct data syndication with category lead to solicite their feedback and implement the same in the model to ensure its future application. After category owner sign-off we publish the dashboard
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