"We were impressed by the responsiveness of the Iasta team and the strong functionality. Our supplier feedback has been outstanding, which helped the adoption and implementation of savings." -- VF Corporation
With Iasta SmartAnalytics, you can maximize insights into your spend data from the inside out. But data visibility is not the only benefit from Iasta SmartAnalytics. It’s also about collaboration and easily sharing spend trends and insights gleaned from spend analysis activities. With Iasta SmartAnalytics, your stakeholders will rave about their new-found access to spend data with just a few clicks of the mouse.
Our customers lean on Iasta SmartAnalytics for multiple reasons. Here are few of the most common benefits of Iasta SmartAnalytics.
Gain more visibility into all your spend data.Using best-in-class technology, Iasta SmartAnalytics provides easy, searchable dashboards for drilling-down into spend and supplier data to analyze hundreds of thousands or millions of transactions. In fact, on the most basic level, Iasta SmartAnalytics arms you with the data to quickly answer questions such as:
- What is my direct spend? What is my indirect spend?
- What is the trend in monthly spend within my largest categories?
- What are the monthly trends of my top 10 suppliers?
- What percent of my spend is under management or under contract?
- What are the sources of the spend data I am analyzing?
- How much of my spend is classified to level 2, 3 or 4?
Organize spend elements based on supplier and transactional data.For most organizations spend data is not contained in one systems. It resides everywhere from accounts payable to Pcard statements to purchase transactions systems like ePurchasing or ERP. Organizations are full of systems containing spend data. The biggest challenge to implementing a successful spend analysis program is trying to manage the supplier and spend data, and knowing where to focus spend optimization.
Without the right tools it’s close to impossible. With Iasta SmartAnalytics, you can easily access and analyze multiple data sets, while categorizing them with a completely different set of classification structures. Best of all, you can quickly make changes and updates to reflect your company’s current organizational situation and analytical requirements.
Easily identify new opportunities ripe for strategic sourcing.Iasta SmartAnalytics is the perfect platform to identify savings opportunities for strategic sourcing professionals. Iasta SmartAnalytics allows you to advance strategic sourcing activities by providing the tools to identify where you should focus your strategic sourcing efforts.
If you are looking for the next low-hanging fruit or looking to take advantage of tail-spend, use pre-built dynamic dashboards with a number of options of where to begin including:
- Opportunity assessments
- Item spend variance
- Spend concentration/ pareto analysis
- Spend by supplier category
Easily identify new opportunities ripe for strategic sourcing.Category analysis is an essential part of optimizing strategic sourcing efforts, but most sourcing and procurement organizations are still lagging in this area. Improving day to day category management as part of spend analysis can drive more value out of existing categories than focusing on sourcing efforts alone. Whether you have internal category expertise or use outside third parties for advanced sourcing, Iasta SmartAnalytics helps you establish category trends aligned with spend volume, spend geography and supplier groupings.
Improve efficiency and overall collaboration with key stakeholders.According to research, freeing up 30% of sourcing staff time can free up as much as 10-15% of their time, which can be used to achieve 10% higher savings targets. Gain hours back in your day by using Iasta SmartAnalytics. Use this time to join forces with other decision makers and develop custom reports on demand by that uncover insights and solve problems. Use the built-in collaboration features within Iasta SmartAnalytics to share reports and mark notes for current and future spend optimization efforts.
Want to see Iasta SmartAnalytics in action? Contact our analytics experts today.