Think. Procure. Repeat.
Analysis and practical guidance on spend analytics, benchmarking and procurement data.
How to Prioritise Indirect Procurement Categories: A Data-Driven Framework
The spend analysis is done. Forty-three indirect categories, ranked by spend volume, sitting in a spreadsheet. The team has realistic capacity to run six proper category strategies this year, maybe seven if nothing breaks badly in Q3. The instinct is almost universal: start at the top.
Procurement Technology Trends and AI Strategy – ProcureTECH 2026
Every year, PASA’s ProcureTECH programme acts as an unofficial barometer for what the procurement technology market actually cares about. Not what vendors are selling, what practitioners are asking for. With ProcureTECH 2026 approaching on 26th March in Sydney, we compared this year’s programme against last year’s.
AI Spend Classification: How to Fix Tail Spend Visibility and Unlock Hidden Savings
Every tail-spend conversation eventually hits the same wall. Someone pulls a spend cube. Someone else questions the categories. Finance asks why the supplier count doesn’t match AP. Procurement explains that P-cards, free-text descriptions, and local vendor names distort the picture.
Design to Decision: Turning Procurement Dashboards into Executive Storytellers
You are three slides into a quarterly business review when it happens. Your CPO advances to a dashboard crammed with seventeen KPIs, five traffic-light indicators, and a graph that requires a PhD to interpret. Someone coughs.Phones emerge.
Seeing Procurement Differently – Data Lenses That Unlock Insight
Procurement dashboards often look sleek, colorful charts, up-to-date metrics, and trend lines that look impressive in meetings. But the real power of a dashboard isn’t in the data it shows, it’s in how the data is sliced and framed.
Which Metrics Actually Move the Needle on Procurement Performance?
If dashboards are the eyes of procurement, then KPIs are the lenses that bring everything into focus. Without the right performance indicators, even the most beautifully designed dashboard becomes misleading, or worse, completely useless. You’ve defined your strategic questions. You understand what decisions your dashboard needs to support.
The Purpose Behind the Strategic Procurement Dashboard – Strategic Clarity First
Walk into any procurement office and you’ll see them everywhere: dashboards glowing on monitors, printed in slide decks, proudly displayed in boardroom presentations. Colourful charts, trending lines, impressive data visualisations that look like they belong in a sci-fi movie. Here’s what you may not see: anyone actually using them to make decisions.
Spend Classification Series: Implementation & Governance (Part 5)
Spend Classification Series . 5-part guidePrevious: Human + Machine for Scale & Accuracy (Part 4) Welcome back to our 5 part series on procurement spend classification. Twelve months after a glittering go-live, the spend-analysis dashboard told an ugly story: the ‘Other’ bucket had doubled, duplicate suppliers were back, and auditors complained that half the categories … Continue reading Spend
Spend Classification Series: Human + Machine for Scale & Accuracy (Part 4)
Spend Classification Series – 5-part guidePrevious: Building a Taxonomy People Actually Use (Part 3) Next: Part 5 – Implementation & Governance Twelve months after a shiny classification go-live, one global retailer found its “Other” bucket had doubled. The taxonomy hadn’t been updated, supplier aliases crept back in, and auditors flagged inconsistent codes across business units.
Spend Classification Series: Building a Procurement Taxonomy People Actually Use (Part 3)
Spend Classification Series – 5-part guide Previous: Our Data is Too Messy! (Part 2) Next: Human + Machine for Scale & Accuracy (Part 4) Many procurement teams struggle with how to categorise procurement spend in a way that’s both accurate and easy to use.
Spend Classification Series: Our Data is Really Messy! (Part 2)
Spend Classification Series – 5-part guidePrevious: Part 1 – Why Does it Really Matter? Next: Part 3 – Building a Taxonomy People Actually Use Spend Classification Series – 5-part guideThis Post: Part 1 – Why Care?Next Up: Part 2 – Our Data Is Too Messy!
Spend Classification Series: Why Does it Really Matter? (Part 1)
Spend Classification Series – 5-part guideNext Up: Part 2 – Our Data Is Too Messy! “Last quarter our CFO spotted AUD 18 million filed under ‘Miscellaneous Services’ and asked, ‘So… what is it, exactly?’ No one could give a straight answer, because the transactions lived in four systems, used eight different supplier names, and lacked … Continue reading Spend Classification Series: Why Does it
13 Signs Your Spend Analysis is Just Expensive Admin
Picture this. You’re sitting in a quarterly business review. Procurement has just presented a beautiful deck, dashboards, pie charts, year-on-year trends. There’s polite applause. Then the room moves on… and nothing changes. No sourcing initiatives. No supplier renegotiations. No new strategies.Just another report, filed neatly into a folder nobody will open again. Sound familiar?
9 Things Procurement Data Analysts Are Too Polite to Tell You
“It always starts the same way”, said a Procurement Analyst I interviewed for a role with our team here at PI Data Analytics. She said, “A cheery email, a calendar invite labelled “Quick Spend Review,” and a promise that the data “should be mostly clean.” I sit down, open the file — and immediately feel my … Continue reading 9 Things Procurement Data Analysts Are Too Polite to Tell You
11 Brutal Ways You’re Misusing Your Procurement Spend Data
Procurement has never had more data, or more pressure Between inflation, supply chain instability, and rising ESG scrutiny, every dollar of supplier spend is under the microscope. Yet, despite having dashboards, reports, and analytics platforms, many procurement professionals are still flying blind where it matters most. Why?
7 Best Practices for Indirect Procurement Strategies Using Spend Data Analytics
With inflation, supply chain disruption, and ESG scrutiny putting the squeeze on businesses, you need to optimise every dollar spent. Trust me, spend analysis is one of your most powerful, yet often overlooked, tools to do just that. Spend analysis transforms your scattered purchasing data into actionable insights.
Opportunity Missed: Government’s ‘AusTinder’ Approach to Procurement Overlooks Value in SMEs
In an age where diversity and choice reign supreme, the recent report by the Joint Committee of Public Accounts and Audit (JCPAA) highlights an irony in the Commonwealth’s procurement approach. The analogy of ‘AusTinder’ – as coined by Julian Hill MP – is fitting.
You’re Probably a Victim of Procurement Fraud. Here’s How to Spot It and Stop It.
Procurement fraud is a huge issue right now. According to PwC, over 51% of organisations worldwide have been victims of fraud in the past two years. Procurement fraud is a huge issue right now. According to PwC, over 51% of organisations worldwide have been victims of fraud in the past two years. Additionally, there are … Continue reading You’re Probably a Victim of Procurement Fraud.
8 Procurement Risks to Watch Out For in Big Projects (and Their Solutions)
Every procurement project comes with its risks. But the bigger, more complex projects can present unique issues, and with the extra time these projects can take to complete, there’s a greater chance of these issues cropping up. For the procurement professional a big project can be a career marker, but potentially a career breaker.
Procurement Needs to Start Prioritising Cybersecurity. Here’s Why & How
It’s early 2018, and the world’s largest ID database, Aadhaar, suffers a breach, exposing information on more than 1.1 billion people. Last year, 10 million current and former Optus customers had personal information stolen in a hack.
Can Sustainable Procurement Save Our Planet? 6 Ways towards Sustainable Procurement
In the past, procurement was primarily concerned with cost reduction, and pursued it with the blinkers on. But attitudes have changed, and procurement is now seen as one of the key weapons in the fight against climate change. How should it be used? Is it realistic? And can procurement ultimately serve two masters – cost … Continue reading Can Sustainable Procurement Save Our Planet?
8 Ways Data Analytics Helps Procurement Navigate Conflict & Weather Events
Since the GFC of ’08, procurement has endured a 15-year stress test. Power plant meltdowns, more powerful weather events than ever before, a pandemic and the continuing Russia/Ukraine conflict. How have we, as a function, learned to deal with events outside our control impacting on our supply chains?
Why, and How, to Pursue ESG Procurement Initiatives in Earnest
It’s a common question: If ESG initiatives are self-reported, why should we bother putting the time and money into pursuing them in earnest? The answer is that you absolutely should, and the reasons are threefold: Let’s take a more detailed look at each reason and then discuss how to do it. Reap the VERY REAL … Continue reading Why, and How, to Pursue ESG Procurement Initiatives in Earnest
Procurement Teams Without Spend Visibility Will Be D.O.A.
CPOs running their procurement operations without visibility into spend are committing procurement malpractice according to a recent article in CPO Rising. The article predicts that procurement teams without spend visibility will be dead-on-arrival. In the procurement world, spend visibility is the foundation of good decision-making.
How a Mastery of Procurement Data Analytics Can Make You a C-Suite Leader.
How to Succeed Amid Conflicting C-Suite Views. Your C-Suite colleagues are facing ever more complex decisions to navigate through some tough economic times and increasing demands by consumers and government on the way you do business as much as the products you provide.
The Revolutionary Potential of Spend Analytics in Healthcare
Almost overnight, the COVID-19 pandemic forced the global medical industry to switch its procurement strategy from cost-reduction to value-driven. A new perspective was required as critical supplies of personal protective equipment (PPE), test kits, cleaning supplies and vaccines needed to be secured, and a disrupted supply chain dealt with.
Procurement Spend Analytics: A Powerful Tool in the Fight Against Modern Slavery
One of the most significant challenges for companies is identifying modern slavery risks in their supply chain. Procurement spend analytics can help by providing companies with comprehensive supply chain data that can be used to identify and address modern slavery risks. Modern Slavery Statement’s Looming Deadline… and then what?
How Modern AI Can Help CPOs Embrace Their New Role
Gone are the days when Chief Procurement Officers only managed day-to-day procurement activities; CPOs are now strategic power players in their organisations. They are responsible for developing long-term partnerships with key suppliers, managing risks, driving innovation and digital transformation, and being a valuable asset to the company’s overall strategy.
2023: The Year of Procurement Hygiene
As we enter the new year of 2023, it’s important to reflect on the past and consider how we can improve in the future. One area that organisations should focus on is procurement hygiene. Identify opportunities and clean up your act Procurement hygiene is a crucial component of any successful business, as it helps ensure … Continue reading 2023: The Year of Procurement Hygiene
Spend Analytics Can Drive ESG Initiatives
Environmental, social and governance (ESG) initiatives are important strategy drivers for an increasing number of organisations worldwide. This is no longer only about responsibility to the environment and community we operate in (though that is motivation enough); these initiatives are now considered key drivers in the effort to gain greater market share and competitive advantages.
Labour Hire: Keep the Advantages, Leave the Risks with ProcureTRAK
Labour costs are rising and the transient workforce is growing. In response, many organisations are relying on labour hire and recruitment agencies more than at any other time. This has its advantages – and its risks. If you’re the average organisation, you aren’t doing enough to manage these risks.
How to Pitch to C-Suite
‘It’s not the right time’. ‘I’d need to run this past…’ ‘It’s food for thought.’ ‘No.’ These are familiar responses to anyone who has pitched an idea to management. If you’re finding them triggering, I apologise, but hang in there: there’s light at the end of this tunnel. Preparing a presentation for C-suite takes effort. … Continue reading How to Pitch to C-Suite
Project Charters – The Ultimate Category Transformation: The Data Suite Series #6
Effective procurement is a journey. From spend analysis and data categorisation through to compliance, contract management and opportunity analysis, there are stations along the way where we can stop, get off and use what we’ve learned up to that point.
Maximise Your Precious Resources with Opportunity Analysis: The Data Suite Series – #5
All organisations have one particular concern in common: proper allocation of finite resources. The difference between doing this right and doing it wrong is boom and bust. This concern touches all aspects of business, but none more so than procurement. With the rise of globalisation, supply chains have swelled into unruly and often unmanageable beasts.
Clean Up Your Contract Management with the Contract Tracker: The Data Suite Series – #4
Nearly 10% of annual revenue is lost to poor contract management. It’s a galling reality, particularly when you consider that it’s totally avoidable. All you need is a good contract reporting system – which is easier acknowledged than acquired.
The Key to Forging Long-term, Successful Relationships with SMEs
We need more participation from SMEs and minority-owned businesses in public procurement; the benefits are simply too great to ignore. With infrastructure spending at all levels of government set to remain strong for the coming years, there’s an opportunity that can’t be missed. But how serious is the government about engaging with small business?
Compliance Reporting: The Data Suite Series – #3
The third edition of our Data Suite series takes a deep dive into organisational compliance, why you need it and how to manage it. Maverick spending is a problem. For some organisations, it accounts for up to 80% of total spend. To get on top of it, though, you need to get eyes on it. … Continue reading Compliance Reporting: The Data Suite Series – #3
Data Categorisation: The Data Suite Series – #2
The second edition of our Data Suite Series takes a look at data categorisation and the benefits of developing a procurement taxonomy. Data categorisation. It’s what every procurement team wants. It’s the next stage after a spend analysis, and it’s where the presentation of data starts yielding really useful and actionable information.
What Is a Procurement Spend Cube?: The Data Suite Series – #1
It’s not about what you have; it’s how you use it. Anyone can collect data, but more and more organisations are struggling to visualise it in a manner which leads to actionable insights. If you want to see your spend data clearly, you have to put it in a spend cube. Over the next month, … Continue reading What Is a Procurement Spend Cube?: The Data Suite Series – #1
5 Ways Procurement Can Expand Your Business
Expand or die. It may seem like a brutal ultimatum, but it holds some truth when it comes to the business world. Organisations, like the universe, cannot stay still: they expand or they contract. That’s it. If you want to keep operating, you have to keep growing. But this growth needs to come in a … Continue reading 5 Ways Procurement Can Expand Your Business
5 Reasons to Use Reverse Auctions in 2022
“What is the best deal you can offer me?” This question is at the heart of negotiations. Of course, a lot of factors must be taken into account when arriving at the answer. The “best deal” isn’t necessarily the lowest price, but the one that allows both parties to achieve their objectives. Contrary to what some believe, … Continue reading 5 Reasons to Use Reverse Auctions in 2022
Data Analytics: Develop Core Skills, Outsource the Rest
Data analytics has been the buzzword in the procurement industry for years, yet there are still many organisations that can’t articulate precisely what it can do for them. Not only has this prevented them from developing their data analysis capabilities, but it’s also meant that those companies who truly benefit from analytics are the exception, … Continue reading Data Analytics: Develop Core
5 Ways Robotic Process Automation (RPA) Benefits Procurement
Robotic process automation is the latest weapon in the war to drive down costs, improve efficiency and stimulate innovation. Organisations worldwide are putting together teams dedicated to analysing all processes and identifying the tasks most suitable to RPA. Procurement is an area ripe for this type of innovation.
3 Green Supply Chain Management Challenges & Their Solutions
The future is bright for those organisations who adopt green supply chain management. By 2025, the global consuming class is expected to have swelled by 75 per cent since 2010. In addition, incomes are growing and people are spending a larger portion of their budget on consumer goods.
Spend Analysis for Data-Driven Decisions
A lack of information used to be the issue for procurement departments. Now that we’re drowning in it, the problem has shifted; how do we organise all this data into some kind of coherent story? Procurement can only be as effective as the data it understands, and too many organisations are grappling with unclassified data … Continue reading Spend Analysis for Data-Driven Decisions
Stay on Top of Probity with Cutting Edge AI
In the 24 months leading up to 2020, 22% of Australian organisations lost over $7.1m to fraud. An additional 40% lost over $1.4m. Where there’s money, there’s temptation and, with large sums of money and many stakeholders involved, procurement is particularly vulnerable to corruption. We’re all aware of this.
Successfully Navigate Digitising The Procurement Process
If information is power, then procurement occupies the throne, sitting as it does at the confluence of huge streams of data that flow between the company and its partners and stakeholders. Having access to all this information, however, is not the same thing as understanding it.
3 Ways the New VGPB Policy Can Reduce Your Risk Profile
For many government agencies, getting aligned with the new VGPB goods and services policy is a daunting task. But nothing worth doing is easy, and what the new policy can do for your procurement processes is certainly worth pursuing. Traditionally – and this may sting – public procurement is done poorly.
Price Benchmarking: The most important element of strategic sourcing
Are you getting the best price from your suppliers? If you haven’t conducted a price benchmark, then this question should be keeping you up at night. Humans like to get comfortable. We like to establish routines and then settle into them like a big, plush, La-Z-Boy recliner.
Procurement Fraud: It’s time to say ‘no’ to the quid pro quo
Globally, the cost is US$3.7 trillion annually. Your organisation alone is losing anywhere from $10,000 to $150,000 a year. For some departments, that’s a conservative figure. Based on these numbers alone, you’d assume those in managerial positions would be doing everything they can to stop the bleeding but, for several reasons, procurement fraud seems to … Continue reading Procurement Fraud
6 Tips for Supplier Risk and Performance Management
The common thought is that COVID-19 has exposed weaknesses in our supply chains. The reality, however, is that most organisations have been dealing with significant unforeseen vulnerabilities and disruptions for at least the past decade. The word to focus on in that sentence is ‘unforeseen’. Admittedly, there are some disruptions difficult to anticipate.
Procurement Strategy for an Unpredictable World
The future of procurement strategy is data driven. In fact, it should already be a reality in your organisation. I don’t believe this is something I have to convince you of. We all accept it. My question is: are we actually using data correctly? Do we really understand what data is? Do we even know … Continue reading Procurement Strategy for an Unpredictable World
2021 Has Put the Spotlight on Supply & Contract Management (and it doesn’t look good)
Nothing is more pressing right now than getting a handle on your supply & contract management. Given that supply & contract management is such a fundamental part of any business, this might seem a ludicrous statement; surely everyone has sorted out their supply & contract management hygiene by now? Short answer: no, they haven’t.
The Category Management Playbook: The Procurement Bible Your Organisation Needs
We need to change our perception of procurement. For too long, it’s been synonymous with red tape and roadblocks. When people think of procurement, they think of a lumbering, complex, process-heavy beast that slows everything down. But that’s procurement done wrong. Procurement is meant to make life easier and more efficient; it really is.
The Spend Profile: It’s Time You Got to Know Your Own Company
No, procurement officers, it’s not your imagination. People are staring. All eyes are on you. Hellish 2020 may be over, but now it’s 2021 and companies are desperately trying to identify areas of cost-saving opportunity while shoring up a teetering supply chain. It’s time to step into the breach.
Do You Have an Agile Supply Chain?
Now is the time to ensure you can respond quickly to changes in your supply chain. ‘Let’s face it – it can’t get any worse.’ This came from a man on ABC News, talking about the impact of COVID-19. It’s an optimistic statement at best, but more likely famous last words. Make no mistake about … Continue reading Do You Have an Agile Supply Chain?
7 Keys to a Successful Reverse Auction
Reverse Auctions are a great way to generate significant cost savings. According to CNBC, companies are typically saving 10 to 20% by using reverse auctions, but I’ve also seen others quote savings over 30%. However, it’s got to be done right. So, how do you run a successful reverse auction? Key #1 – Choose the … Continue reading 7 Keys to a Successful Reverse Auction
Bridging Supply Chain Gaps in the Time of COVID-19
All over the world, strict quarantine and physical distancing measures have resulted in delays, lack of manpower, and loss of jobs for different companies in charge of keeping the supply chain moving. As logistics professionals struggle to come to grips with the new normal, technology steps up and provides potential solutions for bridging the widest … Continue reading Bridging Supply Chain Gaps
Indirect Spend: 6 Ways to Tackle It
Indirect spend shares the fate of many a New Year’s Resolution. We make promises to tackle it head on and then abandon it at the first sign of difficulty. It’s tempting to put it in the too hard basket, but ignoring it could very well be doing you terminal damage. Indirect spend has the potential … Continue reading Indirect Spend: 6 Ways to Tackle It
Procurement in the Roaring ’20s
“May you live in interesting times”. A blessing or a curse? Perhaps that’s something to be determined in hindsight but, right now, it’s looking like 2020 will be an interesting year. At least. It has certainly started on fire, with significant parts of Australia in flames. At multiple fire fronts, people are undertaking herculean acts … Continue reading Procurement in the Roaring ’20s
Reverse Auctions: It’s Time to Embrace the Future
“We’ve always done it this way” The landscape of failed businesses is littered with this phrase. It’s a death knell. More often than not, it represents a mindset unwilling to embrace a new form of technology, a new, more efficient way of doing business or delivering on customers’ desires. Every second, in every city around … Continue reading Reverse Auctions: It’s Time to Embrace the Future
Machine Learning and the Frontier of Spend Analysis
This is the procurement dream: maintaining the quality of goods and services while reducing costs. It’s our primary continuous goal, and spend analysis is the vehicle to drive us there. Spend analysis is the foundation of procurement performance. Improve efficiency, reduce maverick spending, increase cost-savings; this is what well-executed spend analysis does.
Why it’s time to move on from Electronic Resource Planning (ERP) platforms
NSYNC, The Simpsons, chokers. Some things just seemed cool in the nineties. Now… not so much. And in terms of business management, we’ll add ERPs to that list. Sure, the organisation you run or work for may have purchased an Electronic Resource Planning platform more recently – even this year – but little has changed … Continue reading Why it’s time to move on from Electronic Resource Planning
7 Steps To Mastering Your Indirect Spend Analysis
Spend Analysis is the systematic process of collecting, cleansing, segmenting and analysing information about the money spent through your organisation’s suppliers, with the aim of identifying the spend areas that have the biggest impact on both your organisation’s top-line and bottom-line figures. PI Data Analytics tool helps you collect the spend data!
Could the $40million NAB Executive fraud have been avoided?
$40 million! That is how much an ex-NAB executive was able to defraud from the bank before being detected. What would happen to your business if you lost even a fraction of that kind of money? Trust is important in a business. But so is vigilance against untrustworthy people. People are complex; as a result, … Continue reading Could the $40million NAB Executive fraud have been avoided?
Three Startups on a quest to change how we procure
Cryptocurrencies are back in the news, but not for the right reasons. Crypto prices have crashed; people have lost money. The critics are gleeful, while supporters urge faith. So it would seem that no, we won’t be procuring goods and services up and down the supply chain using Bitcoin just yet. But while crypto was … Continue reading Three Startups on a quest to change how we procure
The AI-Enabled Human-centric Future
There is a lot of angst associated with the future of work and rightly so. We are in the moment of profound change because of digitization and virtualization. But this is not the first-time humans have “face the end of work as we know it”, “mass redundancy” and other apocalyptic statements. There is a sense … Continue reading The AI-Enabled Human-centric Future
Skill gaps – who cares?
Did you hear about the Japanese Minister of Cyber Security who doesn’t know how to use a computer or anything about Cyber Security? That’s a massive skills gap, despite the assertion by Yoshitaka Sakurada that he has skilled bureaucrats backing him up. The Minister suggests that his biggest job is to read out written replies … Continue reading Skill gaps – who cares?
Negotiation using Hagglebots
Procurement is about making deals. What does it mean to make deals in 2019? For too long, savings has dominated the procurement agenda. A success of a procurement department is measured by how much value they derive for the organisation and yes, of course this comes down to savings on a contract. But this focus … Continue reading Negotiation using Hagglebots
Let’s Celebrate: We’re taking over PI Day
Join the Comprara and PI Data Analytics Team to take over Pi Day #PIDayTakeover #PIDay Pi Day on March 14th is an annual opportunity for maths enthusiasts around the world to recite the infinite digits of Pi, talk to their friends about maths, and to eat Pie. But this year we’re taking over and redefining … Continue reading Let’s Celebrate: We’re taking over PI Day
It is dirty work, this data business.
“I’m an oil man, ladies and gentlemen. I have numerous concerns spread across this state. I have many wells flowing at many thousand barrels per days. I like to think of myself as an oil man”. – Daniel Plainview, There Will Be Blood Data is the new oil; many people acknowledge that. However, while no … Continue reading It is dirty work, this data business.
5 reasons to use reverse auctions in 2019
“What is the best deal you can offer me?” that is the heart of negotiations. Reverse auctions are a tried and tested tool to get to the “best deal”. A brief intro on “what is a reverse auction”: In the case of normal auctions, the vendor puts up a good, and potentials buyers offer up … Continue reading 5 reasons to use reverse auctions in 2019
Trust me I am in procurement
What role does trust play in Procurement? See how Procurement teams manage trust using Smart Contracts and Blockchain Technology
“Let us welcome our newest chatbot to the team!”
See how chatbots improve procurement capabilities by utilising existing data and channel them through Artificial Intelligence algorithms to give accurate insights in a more personalised form.
Can someone PLEASE stop the mavericks?!
All of us in procurement know that procurement non-compliance happens. The bigger the organisation, the more likely the chance that someone, somewhere is making purchasing decisions without consulting procurement or going through the defined process.
Does data give your day a va-va-va voom?
Data will enable suppliers to manage their customers better; and, data will enable procurement to manage suppliers better. Detailed analytics will allow teams to track best and worst performers and adjust the supply chain accordingly quickly.
Procurement Skills for the Future: Predict the Future with Predictive Analysis
Data is the new oil, but how will it fuel procurement in the future? One way is for data to predict the future. Currently, the focus of data analysis is to examine the past. Spend analysis and management involve processing and analysing data to decrease procurement costs, improve efficiency and monitor compliance.
Are you ready for Big Data in Procurement?
Big Data is “in”, it is the buzzword of the decade as businesses and organisations in-general become more and more data driven. Yet, what is big data? How does it differ from traditional data and data analysis? Most importantly, are you ready for big data’s encroachment into procurement?