the value of spend analytics webinar 11-19-2014
DESCRIPTION
spend analyticsTRANSCRIPT
Duane Tucker Jonathan WhiteDirector of Strategic Procurement Director of SalesUniversity of Colorado Spikes Cavell
THE VALUE OF SPEND ANALYTICS1AgendaAbout CUWhat is Spend Analytics?DataWhy Do We Use A Spend Analytics Tool?Why Spikes Cavell?How We Use Spend AnalyticsSpikes Cavell ServiceDemoCurrent and Future OpportunitiesQ & A / DiscussionTakeaways
58,000 Students
$6B Economic Impact
Third Largest Employer
$3.2B Budget
$923M Spend University of ColoradoSpend analysis is the process of collecting, cleansing, classifying and analyzing expenditure data with the purpose of reducing procurement costs, improving efficiency and monitoring compliance. (Wikipedia)
What are we really spending?With whom are we spending it?Are we getting whats been promised for that spend?What is Spend Analytics?
4Data
AP Data
Procurement Card5Support Strategic ProgramsTransition from transactional to strategicSourcingE-procurement PlatformSupplier Relationship ManagementWhy Spend Analytics?6Cleanse and normalize dataDe-duplicate dataCollaborationCategorize dataWhy Spend Analytics?
7Relationship with NAEP and E&IFocus on Higher Ed / Public SectorWeb-based toolCustomizationData TransformationProduct development roadmapWhy Spikes Cavell?8Strategic Sourcing TargetsRogue Spend BenchmarkingDepartment Spend ReportingHow We Use Spend Analytics
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12Questions/Comments
The Spikes Cavell Program
Ideal StateSolve our problem of poor quality spend data without a lot of time and effort required by us.Make it easy to identify opportunities to save money, become more efficient and increase compliance. Have reliable spend data to make strategic sourcing possible.14The Spikes Cavell Program
& MoreCreate a central register of your contracts.Match spend to contracts to identify maverick expenditure.Compare your spend with other organizations like yours.Provide local, small, and minority business spend reporting.Record and report the savings you deliver.15The Spikes Cavell ProgramCollect aggregate sourcesCleanse Data Fitness CheckClassify automatic and manualEnrich add extra vendor infoRedact obscure peoples namesCollate merge with other datasetsReport Observatory accessSupport training and guidance provided
16Demonstration
17Current OpportunitiesSavings ToolContract RepositoryCategorization UpdateHigh Level Comparisons With Other AgenciesOpportunities
18Future OpportunitiesEnhanced Quarterly ReportingLocal CategorizationLine Level CategorizationDetailed Sharing With Other AgenciesOther Department StakeholdersCategory Management
Opportunities
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Takeaways
21Jonathan WhiteDirector of Sales - US, Spikes Cavell571-313-5257 ext. 102 [email protected]
Duane Tucker, CPPBDirector of Strategic ProcurementUniversity of Colorado (303) [email protected]
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