The new PROACTIS Spend Analysis software is a new SaaS solution that enables organization’s to track spending in real time. PROACTIS Spend Analysis is designed to give executives deep insights into the factors that can cause budgetary inconsistencies.
The deep insights provided by Spend Analysis come from a risk perspective. Compliance combined with Key Performance Indicators on the PROACTIS platform help organizations know where there money is going.
The PROACTIS Spend Analysis allows organizations to upload their ERP data into the PROACTIS Cloud processing engine. Once successful, a business analyst can easily perform analytical tasks with all the data available. The PROACTIS platform enables organizations to have a real time analytical view of their spending.
“The new PROACTIS Spend Analysis solution exploits the latest cloud technologies to provide on-demand visibility of total combined spend; automatically classified and enriched. Analytics delivered through intelligent dashboards enable ‘slice and dice’ capability displayed on mobile devices. Customisable alerts enable users to identify where money is spent, negotiate better contracts with suppliers, and rein in maverick spending with confidence,” said Rod Jones, CEO of PROACTIS.
PROACTIS mentions that they have built their solution using Microsoft Azure along with the NOSQL technology powering the database. PROACTIS believes that their solution can run 24/7 without interruption. Key functionalities of the PROACTIS Spend Analysis platform include:
- Spend Data Repository
- Spend Data Enrichment
- Spend Analysis
- Supplier Analysis
- Compliance KPIs
- Spend Notifications
As a business, it’s important to know exactly where your money is being spent. With PROACTIS Spend Analysis, organizations can drill down into categories. From there, you could event see which cost centers are spending money and even peek into the invoice data itself.
The categories can be monitored and compared to see who is spending what. You could pose questions such as “Why is production going over their monthly allowance for company provided lunches?” With PROACTIS Spend Analysis, the real time view gives executives the numbers they need in order to ensure the long term success of their organization.