Version 4.0 beefs up reporting capabilities, improves accuracy of spend classification
Clark, NJ September 26, 2003 Global eProcure, a provider of e-sourcing tools and services, this week launched version 4.0 of its Spend Analysis module, beefing up the solution's reporting capabilities and spend classification accuracy.
The solution provider said that its Spend Analysis solution combines artificial intelligence, heuristics and a rules-based approach to help customers obtain a detailed and accurate view of their overall organizational spend.
This latest version has improved reporting capabilities and increased accuracy of spend classification compared to earlier versions of the software, which can be integrated with Global eProcure's other e-sourcing modules, including eRFx and eAuctions, Global eProcure said.
The spend analysis tool takes a bottom-up approach, according to the solution provider. That means collecting and extracting spend data from disparate sources, cleansing, reconciling and aggregating data to remove duplicate entries, standardizing vendor names and extracting parent-child relationships.
The solution then classifies data into sourceable categories using UNSPSC or other coding taxonomies and prepares customized reports after the data analysis is complete. Version 4.0 offers improved reporting capabilities, including spend by minority vendors, balance of trade analysis and commodity price variance.
Global eProcure said that several of its clients including Duron Paints and Wallcoverings, Church and Dwight, & Colfax Corp. have used the Spend Analysis solution to view their enterprise-wide spend, analyze spend by business unit, geography, product and vendor, determine price variances by suppliers, and identify opportunities to consolidate vendor base and to leverage cross business unit volume.
The use of the spend analysis tool has helped these clients prioritize strategic cost-reduction opportunities and launch a full-fledged e-sourcing program within the organization, according to the solution provider. "Spend analysis [with Global eProcure] provided insight into prioritizing strategic opportunities, and e-auctions have introduced a number of outstanding vendors," said Bruce Boos, director of supply chain with Duron Paints and Wallcoverings.
Global eProcure offers Web-based e-sourcing solutions, and it claims its clients have seen savings in the range of 5-35 percent across a range of categories.
For further insights in the current market for sourcing solutions, read the Global Enabled Supply and Demand Chain Series article on Sourcing in the October/November 2003 issue of Supply & Demand Chain Executive.
