Agility is key — Deloitte
Deloitte's 2021 Global CPO Survey, titled "Agility: The antidote to complexity", spotlights agility as key for high performing procurement organizations. At Spendata we're delighted with this conclusion, because we've built our product around that very principle.
The authors define agility as:
the ability to think and draw conclusions quickly, and move nimbly and easily.
The Survey reports that "high-performing agility masters"
are 4-5 times more likely to have fully deployed advanced analytics/visualization.
In fact, 74% of CPOs found spend/savings performance analysis "the most valuable" type of analytics. We agree. It's critical to get that right — many companies don't.
From a resources perspective, the Survey reports that
the biggest skill gaps are those related to using digital tools such as analytics to leverage data to influence and collaborate with stakeholders.
That's why Spendata is designed so that it can be mastered quickly and used effectively out-of-the-box. In just minutes, Spendata will load, autofamily, and automap your data, leaving you with a usable AP spend cube — all you have to do is answer a few questions about your data (for example, 'Which field is the Amount?"). Watch our videos to see this in real time.
A searchable video help system with over 100 targeted (less than 2 minute) videos fully documents the product. If time is an issue, Spendata Services can provide any level of help desired, from telephone assistance to our unique Work Alongside Training program.
The Survey further reports that
if CPOs had additional budget to invest, the top-rated area would be "analytics and data management tools."
There's good news there, too: Spendata Classic, our powerful entry-level solution that can handle most spend analysis requirements, is only $699/year. If that blows the budget, then there's very little hope!