Here is an excellent summary from the Procurement League on the topic. If you are in supply chain then you should take a look at this document.
Why am I recommending this course of action? Simply, I believe that you might be way too focused on one spend category and you have never taken a look at any of the others. Most likely you don’t have the time or the necessary skills to extract the data and complete your analysis.
Over the last year, I have assisted a number of organizations and provided them with a full review and recommendations based on the data they sent me in confidence.
QCsolver Inc. is working on automating the spend analytics process. What we do need is a lot more data. This is where you come in. If you would like some #spend#analysis assistance then simply email me at email@example.com and I can provide you with an overview of how we can help.