Uncover the Hidden Potential Lying Within Your Data
Iasta SmartAnalytics is powerful visibility & analysis software that provides insight into your company’s spend, at the most basic level, and provides the tools that will take that basic data and turn it into the wisdom necessary to make intelligent business decisions based on informed forecasts and pipeline metrics. We designed this tool specifically for sourcing professionals to consolidate and analyze their spend quickly and efficiently.
Data visibility is only the basis of what Iasta SmartAnalytics provides, because data in a silo is almost useless. Information is what we provide by cleansing & classifying spend and putting it in the same environment as other useful data, such as supplier enrichment feeds, supplier risk, price indexes, and even data from our Sourcing platform.
Knowledge is then provided by this BI tool, allowing users to drill into spend & sourcing data to make associate discoveries, and therefore make the right choices when determining a sourcing pipeline or other strategic initiative. Intelligence is what you get through these discoveries if we tie spend, sourcing and 3rd party data all together in the same environment. And finally, Wisdom is how the intelligence allows you to take what’s contained in SmartAnlaytics and create a strategic action plan:
- Build a better pipeline
- Improve the sourcing process
- Improve load balancing
- Improve forecasting
- Define cost-savings targets
With Iasta SmartAnalytics, you now have the data necessary to do an "opportunity assessment," and you have a baseline against which to evaluate any spend management initiative. If you have no baseline, nobody knows whether you are succeeding or failing or, for that matter, where the best opportunities for spend reduction may lie.
Ultimately, intelligence and wisdom are what will create Procurement heroes and gain greater influence and spend under management for Procurement.
Snapshot of Benefits:
- Iasta SmartAnalytics can categorize all data elements — both supplier data and transactional data.
- Iasta SmartAnalytics users can develop custom reports on demand. Users do not need to wait for IT to develop reports or adjust existing reports.
- Iasta SmartAnalytics users have access to multiple data sets, and Iasta can categorize them with a completely different set of classification structures. In fact, Iasta SmartAnalytics users can take advantage of customized classification structures. They are not limited to one standardized structure that may or may not reflect their organization’s needs.
- Iasta SmartAnalytics has the flexibility to quickly change to reflect the current organizational situation and analytical requirements.