Spendata is the first truly do-it-yourself spend analysis system. Spendata makes it possible for any company to save money, because it’s easy to use and it’s backed by a library of video tutorials. These videos cover not only the use of the product, but also the process of achieving value with spend analysis. At $699/year, Spendata moves the discussion from “we can’t afford to do this” to “we can’t afford NOT to do this.” Spendata is a collaboration between industry veterans who have previously designed and built successful spend analysis systems, and sourcing consultants and practitioners who have implemented spend analysis at companies across the globe. This mix of talent ensures that the system has the power to unlock savings while remaining approachable and understandable. The Spendata story started back in 2001, when Eric Strovink and Bernard Gunther joined forces at Zeborg to create ExpenseMap, one of the world’s first high-speed, in-memory spend analysis systems (ultimately acquired and marketed by Emptoris, then IBM). ExpenseMap drew heavily on Bernie’s sourcing work at AT Kearney and The Mitchell Madison Group in the 1990’s. Eric and Bernie subsequently joined forces again at BIQ, sending shock waves through the space with a spend analysis product that was 10x less expensive and much more powerful than competitive offerings. But by 2015, it was clear that spend analysis solutions continued to suffer from two serious problems:

Expense. The key tools for extracting value are either too difficult to master or deliberately withheld from the end user. So, the vast majority of spend analysis buyers have to rely on vendor services to perform routine analyses, updates and changes, greatly inflating the actual cost of owning a spend analysis solution. Vendors can charge whatever they like for services -- because you can’t do it yourself.

Functionality. The value of a spend analysis system is tightly coupled to those very same key tools. If a user has to run back to a services provider every time data mapping or familying is required, the solution becomes far less useful. If you can’t manipulate your spend data in real time -- and if you can’t do it yourself -- you forfeit the ability to extract value from it.

So, Eric and Bernie assembled a new team of partners, all of whom have deep industry experience, and re-connected with Jeff Schachter, one of the key resources on the ExpenseMap project. The mission was clear: create an inexpensive, powerful, do-it-yourself spend analysis system for any size organization looking to get real value from their spend data.

Spendata is not raising capital at this time, but we appreciate and thank you for your interest.

Spend Matters: Sourcing Innovation: