Procurement Category Analytics Featured

Spendkey is a trusted modern spend management solution designed to help

businesses reduce their third-party spend and increase bottom-line savings.

With Spendkey, businesses gain access to a 360-degree snapshot of their

company's spending habits, enabling them to have a comprehensive

understanding of their procurement activities.

Spendkey uses the power of artificial intelligence to reduce the spend

management process to a few seconds. The platform allows you to ingest all

your spend data, which is collected, cleaned, and categorised according to your

company’s specific requirements. It lets you categorise your spend based on

standard taxonomy or customised taxonomy as per business requirements.

Once categorised, this modern spend management solution analyses the data

and reveals meaningful insights visible on multi-dimensional dashboards. These

dashboards are capable of revealing hidden spend by considering the smallest

details regarding every penny leaving your company’s treasury. From

identifying tail spend to discovering maverick spend, Spendkey ensures that

you do not miss out on any detail regarding your company’s expenses.

Spendkey provides granular views of spend for different cost categories. With

this level of visibility, businesses are able to identify areas where cost savings

can be made. Using detailed spend analysis, businesses can identify cost

drivers, identify trends, and uncover savings opportunities.

Using Spendkey, you can also gain valuable insights into your supplier

landscape with just a few clicks. Spendkey allows businesses to explore and

analyse their supplier contracts, track supplier performance, optimise the

supplier landscape and provides scope for greater negotiations with suppliers.

As a result, businesses can make data-driven decisions and manage their

supplier base strategically.

Among Spendkey's major advantages is its efficiency. Being a fully automated

platform it eliminates the need for manual data extraction and analysis, which

can be time-consuming and labor-intensive, thereby providing valuable insights

and actionable recommendations quickly and easily. This allows businesses to

save time and resources spent on extracting insights from complex data sets.