Impendi’s Procurement Analytics provides ongoing insights across the procurement savings lifecycle so that our engagement with you may find, get, and keep more savings. Our Procurement Analytics solutions combine a unique blend of data expertise, know-how from hundreds of cost savings initiatives, and leading edge AI technology.
These analytics solutions are not rigid algorithms that constrain insights and opportunities. Rather, we efficiently tailor analyses to your unique spend categories so that dashboards can automatically detect and quantify opportunities. Whether you’re a category manager, sourcing specialist, or procurement professional, Impendi delivers the insights your business needs for high-impact, data-driven decisioning.
Gain Full Visibility into Your Spend
With over $3 trillion in spend analyzed across 200+ organizations, our team of category experts will rapidly categorize, consolidate, cleanse, enrich, and transform your raw financial data and convert it into a rich set of procurement insights.
Our standard product contains 30 ‘out-of-the-box’ dashboards that are customized to company or PE portfolio requirements. Our spend cube will guide you to find new savings opportunities, drive greater process efficiencies, and improved compliance. Impendi Spend Analytics, provides individual or portfolios of organizations with:
- Comprehensive visibility into spending
- Repeatable processes for data cleansing and spend classification
- Foundations for identifying and planning savings initiatives
Savings Program Analytics
Manage Savings Forecasts More Accurately
All procurement organizations acknowledge the need for greater visibility and control over savings initiatives but are sometimes challenged to develop the tools and processes to effectively track opportunities from idea to realized savings.
Impendi Savings Program Analytics will provide you teams with the tools to:
- Establish enhanced structure and accountability during implementation
- Gain real-time visibility into savings projects
- Track project changes and risk over time
- Accurately forecast when savings will hit the bottom line
Realized Savings Tracker
Track Your Contributions to the Bottom Line
Do you know how much savings you have realized?
Impendi Realized Savings Tracker will measure and prove the savings you’ve realized. Moreover, when savings deviate from forecast, you’ll have the tools you need to understand why. With Impendi Realized Savings Tracker, you’ll be able to quantify the contributions of all savings initiatives to the bottom line.
Contract Compliance Analytics
Prevent Savings Leakage
The average company loses 22% of negotiated cost savings to leakage due to poor contract management, inefficient supplier onboarding and other issues. Impendi Contract Compliance Analytics closes the gap between what you expected and what you got. By automating contract reconciliation, you’ll detect non-adherence and act.
With continuous monitoring, you will know if supplier spending is happening at contracted rates, which suppliers are overcharging, and whether the organization has missed any volume discounts, rebates, or entitlements. Armed with this intelligence, you can claw back lost savings and put remediation measures in place to prevent future leakage.
Tail Spend Analytics
Identify and Reduce Tail Suppliers
Tail spend is the 20% of spend that is unmanaged due to a high volume of suppliers and limited in-house resources. Bringing management to tail spend can reduce these annual expenditures by 5% to 10%, adding up to tens, even hundreds of millions of dollars for the large companies.
Impendi Tail Spend Analytics consolidates spend from all sources, including ERP, purchasing cards, travel, and entertainment. Applying AI and machine learning to a global database of over 250 thousand suppliers, this tool quickly and efficiently categorizes your tail spend for better management going forward.
Cash Release Analytics
Free Up More Cash
Cash flow management is vitally important indicator of financial health. Impendi’s Cash Release Analytics helps you gain visibility and control over cash flow and working capital. The solution comes with built-in algorithms to automatically detect early payments to suppliers, missed discounts, and suppliers with multiple payment terms.
Importantly, the solution comes packaged with the ability to model the impact on cash of various supplier payment terms scenarios. Impendi Cash Release Analytics goes further to help you quickly and easily achieve optimal inventory levels.
Manage Inventory More Effectively
Effective inventory management leads to quantifiable improvements in cash generation, sales, gross margin, and working capital. Impendi Inventory Analytics leverages your data to quickly identify near-term value creation options.
While opportunities will depend on your situation, the insights from Inventory Analytics frequently finds opportunities to:
- Liquidate, sell down, or move unproductive inventory
- Reduce inventory holding costs
- Ensure product availability meets customer demand
- Operate at inventory levels which balance service level with cost
Supplier Diversity and Risk Analytics
Enrich Your Supplier Data with Additional Content
Increasingly you need to know which suppliers contribute most to your diversity goals and which pose excessive risk to your business. Impendi Supplier Diversity and Risk Analytics tracks and manages a broad range of spend categories with suppliers certifiably owned by minorities, women, veterans, or disabled individuals.
Through integrations with massive third-party databases, Supplier Diversity and Risk Analytics helps you identify a wide range of diversity options while mitigating financial risks or reputational damage from past bankruptcies, unknown liens and judgments, OSHA violations, or uncertified and debarred suppliers.