It’s one thing to run a report from your ERP system(s) and see which suppliers your spent money with. It’s an entirely different thing to understand what your company is spending that money on. SpendConsultant will help. Leveraging the subject matter expertise of the strategic sourcing consultants at Source One, we’ll evaluate your spend and cluster it together in spend categories so that you can see a hierarchy of your corporate spending in a classified format.
For three decades, the procurement consulting team at Source One has been conducting strategic sourcing events and collecting data from those events. We’ve collected hundreds of thousands of suppliers names, millions of deviations, and millions of line items. Using databases, scripting, business rules and modern machine learning engines; our data science team has developed a way to leverage that data in order to gain insights into how to classify spend. Those results can be seen with SpendConsultant.
We provide procurement-focused classifications of your suppliers. With that spend classification in place, you can view your historical spend by product, service type, or even down to a supplier name level.
While we automate as much of our spend classification as possible, a good quality control process is still necessary for a proper spend analysis. The category management experts at Source One work with the data science team of SpendConsultant to ensure that your historical spend analysis is accurate.
