Spend Analysis
Make better predictions, reduce cost and improve profit.
Its estimated that the spend in energy sector will be double by 2025 given the current growth remains intact. Investment will be made on many fronts however technology is at the forefront of this game. Also, environment friendly regulations are pushing companies to use renewable sources of energy. This means increased spend on multiple factors that include technology, machines, fuels and more. With growing cost of machines, labor, fuel and other factors, companies need to ensure optimal utilization of their spend budget. A detailed view of spending patterns and history of spend can help to predict future spend trends. This information can help in better utilization of resources and save money at the same time.
EzDataMunch provides pre-built spend analytics dashboard solution that is specifically designed for energy companies. These dashboards gives real-time details about total spend that can be drilled down to the minutest of details. With this information companies can track their current spend, compare budget with spend and predict future spend.
- Study records of individual expenses separated by type of purchase and commodity type.
- See quantitative data of savings per item and identify the areas where savings can be increased.
- See the expense variance of each product and identify whether your company has cost over runs.
- Filter results by year and map out the changes in your company’s spending patterns.
- See comprehensive break down into various financial factors such as planned spending, actual spending and savings percent.
- Compare profit and loss data for each month of the year.
- View profit and loss data represented visually on a pie chart for easy interpretation.
- See fulfillment data by Profit & Loss and Supplier.
- See entitlement and EM Spend metrics for emerging markets.
- Data can be visualised quantitatively.
- Get details for supplier quality, cost of freight and more for evaluating your supplier’s performance.
- View purchase order metrics in detail by filtering report as per tier, quantity, year, sole source and more.
- Sort spends analysis data by tier, commodity and other critical factors.
- View a detailed summary of spend, savings, quantity etc. for different industrial parts.
- Gain an insight into average prices and track changes occurring throughout the year.
- See a ready to use list of previous vendors.
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- Part 1: Visualization -Watch Video.
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- Part 5: Integration and Mesh-ups - Watch Video.