Spendkey provides precise spend visibility and reliable reporting. Data transformation and intuitive analytics powered by AI give you a complete view of your spending.
The platform can extract, unify, and categorise all payments data. This data is then processed to provide a single, accurate spending view. Spendkey’s dynamic multi-dimensional dashboards uncover hidden spend and provide business-wide analysis.
Spendkey’s insights include:
1. Spend by category: Understand how you spend on marketing, travel, IT, etc. This reveals overspending and cost-cutting opportunities.
2. Spend by country: Analyse your business’s international spending. This knowledge can help you identify regional trends and allocate resources.
3. Spend by business unit: Track departmental spending. This can reveal high-spending areas or units that need cost control.
4. Spend distribution: See where you spend. This information identifies concentration risks and improves supplier management.
5. Supplier Segmentation: Group suppliers by size, location, and performance. Strategic suppliers, better terms, and supply chain optimisation are possible with this segmentation.
6. Unauthorised or off-contract spending: Find it. This insight aids compliance and maverick spend reduction.
7. Contracted/Non-contracted spend: Know how much of your spending is contractual versus ad hoc. This analysis improves contract compliance and finds cost-saving opportunities.
8. Analyse supplier payment terms and cash flow trends. This knowledge can improve cash management and payment terms.
9. Savings: Find cost-saving opportunities in your spend data. Spendkey’s AI technology can find cost-cutting, deal-making, and supplier consolidation opportunities.
Businesses can use Spendkey’s features to understand their spending patterns, make informed decisions, and find cost-saving opportunities.