Spend

Analytics

Partner with us for enhanced data integrity, spend visibility, and improved procurement performance.

Dryden's Spend
Analytics Dashboard

In today's rapidly evolving business landscape, where data plays an increasingly crucial role, harnessing the power of analytics has become paramount for organizations aiming to gain a competitive edge.

This holds especially true in the realm of procurement, where understanding and analyzing spend data can unlock not just valuable insights, but also drive significant cost savings and enable smarter decision-making.

What are
Spend Analytics?

Spend Analytics refers to the discipline of collecting, processing, and analyzing procurement data.

Spend analysis uncovers business buying patterns through an in-depth review of procurement data.

Organizations use these to manage their suppliers, to track procurement performance, and to decrease cost.

Dryden's Spend Analytics Dashboard

Organizations often face a myriad of challenges when it comes to procurement spend analytics. One prevalent issue revolves around data integrity and visibility. While organizations possess vast amounts of data from various spend data sources, the inability to transform this data into usable information and effectively communicate it to end-users limits its true value. Are you equipped with all the necessary accurate data? And is this data properly communicated to enable stakeholders to make informed, data-driven decisions? Without reliable data, it is nearly impossible to conduct a detailed spend analysis.
Another challenge lies in technology utilization. With numerous software and technology options at their disposal, organizations may find themselves overwhelmed by the abundance of choices. The excessive use of multiple solutions to address the same problem can hinder progress and create inefficiencies. Do you struggle to keep up with and fully utilize your available software and analysis tools?
If your organization is grappling with any of these challenges, Dryden's Spend Analytics solution is here to provide assistance. Dryden Group empowers organizations to maximize the potential of their procurement data by offering user-friendly spend analytics dashboards. Analyzing procurement data will become easier than ever.

Key Benefits

  1. Enhanced Data Integrity and Data Management: Dryden ensures enhanced data integrity by standardizing supplier names and establishing accurate category hierarchies. Our backend tools, coupled with our categorization expertise, help organizations gain control over their data.
  2. Spend Visibility: Our data visualization dashboards provide comprehensive visibility and capture your relevant data, ranging from high-level category views to detailed supplier line items. With our solution, you will gain actionable insights at your fingertips, empowering you to identify cost saving opportunities and make well-informed decisions. Spend management is made easier.
  3. Improved Procurement Performance: Increased visibility enables data-driven decision-making and reduces guesswork. Dryden's dashboard analytics enhance your cost mitigation capabilities and drive cost savings that are validated and tracked in detail. You'll gain insight into spending patterns, supplier performance.
  4. Customized Dashboards: Dryden provides custom spend analytics dashboards tailored to your specific organization and end users. Each user, no matter their procurement function, can have a unique login that grants access to the reports and dashboards most relevant to their needs. With 24/7 access to your analytics, you will always have a pulse on your spending.
  5. Fast onboarding: This is not a software solution that requires intensive internal time and resources from your procurement teams. Dryden provides this spend analysis solution via a cloud-based platform.

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The Dashboard Spend Analysis Process:

  • Data Gathering and Spend Identification: Gather historical data from available sources such as enterprise resource planning (ERP) data, external data (supplier data).
  • Dashboard Creation: Customize the dashboard based on the gathered data, categories, business units, client-specific requirements, and Dryden's expert recommendations.
  • Review and Release: Create user accounts, refine dashboard views and metrics, and continuously iterate and improve based on user feedback.
  • Refresh and Maintenance: Continuously refresh dashboards with new data, analyze data, and maintain dashboard views, user access, and more.
Dryden's spend analytics process is tailored to fit each clients needs. The process varies, but our spend analytics brings the same results.

Common Dashboard Views

  • Tail Spend Analysis: View opportunities to consolidate spend to your primary vendors and categories where a strategic sourcing event may be necessary
  • Category Spend Analysis: View spend by category to develop category and vendor-specific strategies
  • Supplier Analysis: View spend by supplier to evaluate supplier risk, identify opportunities to improve supplier performance, and identify savings opportunities for key vendors.
  • KPI and SLA Analysis: Detailed view that tracks key performance indicators and service levels specific to a vendor contract. Manage risks and improve supplier relationships.
Above are some typical dashboards utilized by our clients. Each dashboard is customized to display the information you desire in the way that suits you best.

See what Dryden Group can do for you.

Procurement organizations partner with Dryden Group for optimized procurement analytics and to gain a distinct competitive advantage in their industries. Contact us today to learn more about how we can help your organization unlock the true potential of your procurement data and achieve your cost reduction goals.

Let's connect:

info@drydengroup.com
610-644-0990
201 King of Prussia Rd,
Ste 650
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