New York — June 10, 2003 — Sourcing solution and services provider Tigris Consulting this week took the wraps off upgrades to its spend analysis solution, adding new item-level categorization features and other capabilities designed to help companies gain greater visibility into their spend.
Tigris says that the latest iteration of its Total Spend Analysis (TSA) solution can help companies gain a detailed, nuanced understanding of enterprise-wide expenditures and uncover savings opportunities through an analysis of historical, current and projected spend data.
The solution offers customized category hierarchy to meet both specific industry needs and the market dynamics associated with specific industries, and it collects data from multiple sources, including manufacturing resource planning (MRP) data for direct spend, accounts payable (A/P) data for indirect spend and purchasing card (p-card) data.
TSA uses proprietary normalization and categorization algorithms to speed up the cleaning and categorizing of data, Tigris says, and the solution tracks spending across the enterprise by business unit, vendor, category, item and geography. New item level categorization features and the assignment of UNSPSC codes enable TSA clients to achieve greater spend visibility, according to the provider.
Reporting capabilities in the solution range from basic process activity reports to spend and performance analysis by line item, commodity and supplier, and optional OLAP functionality provides real time slicing-and-dicing functionality directly to users. "Refreshability" features enable repeat analysis at periodic intervals.
Tigris suggests that TSA can help users realize an average of 8-12 percent savings on purchased cost of goods within the first twelve months of implementation, in addition to improvements in compliance for indirect categories and an increase in the amount of spend that procurement organizations can source annually.
"It's simple: Without spend visibility, companies are leaving money on the table when managing their suppliers," said Tigris CEO Brent Habig.
Tigris says that the latest iteration of its Total Spend Analysis (TSA) solution can help companies gain a detailed, nuanced understanding of enterprise-wide expenditures and uncover savings opportunities through an analysis of historical, current and projected spend data.
The solution offers customized category hierarchy to meet both specific industry needs and the market dynamics associated with specific industries, and it collects data from multiple sources, including manufacturing resource planning (MRP) data for direct spend, accounts payable (A/P) data for indirect spend and purchasing card (p-card) data.
TSA uses proprietary normalization and categorization algorithms to speed up the cleaning and categorizing of data, Tigris says, and the solution tracks spending across the enterprise by business unit, vendor, category, item and geography. New item level categorization features and the assignment of UNSPSC codes enable TSA clients to achieve greater spend visibility, according to the provider.
Reporting capabilities in the solution range from basic process activity reports to spend and performance analysis by line item, commodity and supplier, and optional OLAP functionality provides real time slicing-and-dicing functionality directly to users. "Refreshability" features enable repeat analysis at periodic intervals.
Tigris suggests that TSA can help users realize an average of 8-12 percent savings on purchased cost of goods within the first twelve months of implementation, in addition to improvements in compliance for indirect categories and an increase in the amount of spend that procurement organizations can source annually.
"It's simple: Without spend visibility, companies are leaving money on the table when managing their suppliers," said Tigris CEO Brent Habig.
