With rapid emergence of new procurement technologies and solutions in the last 5yrs, a number of our clients have procurement systems with an ability to drive self-serve analytics or are on a journey to implement/transition to newer and more intelligent systems that can collect, classify, cleanse and analyse data to provide actionable insights. However, many organizations face persistent challenges in leveraging procurement technologies effectively for the following reasons:

• Data interpretation challenges: Diverse data sets, with incomplete data dictionaries result in incorrect mapping of data from source to destination system. With huge variances in interpretation of data, data analytics and insights, stands irrelevant beyond fundamental data views. This amplifies the issues as anomalies remain unresolved and get identified once visualized.
• Data ownership and lack of data validation: A minor percentage of data fields and foundational data needed for Procurement Analytics is owned by procurement. A number of Organizations struggle with identifying the right owner of procurement data fields and thereby cannot validate insights presented.
• Data Cleansing: Holy grail of analytics on accurate data is a myth, however, we find that a number of clients early in their journey to drive insights are enamoured by the next shiny solution presenting data in pop visuals.
• Sub-Optimal Implementation: While many systems claim coverage of analytics across indirect and direct procurement, a handful of systems truly have capabilities that span direct and indirect procurement domains
• Adoption: Many companies still struggle with driving adoption of analytics solutions launched built with hundreds of thousands of dollar investments. This negates the business case in implementing the solution and the solution soon is on the guillotine awaiting arrival of the next shiny solution.

Through years of hands-on experience in driving implementation of procurement analytics, CtrlSpend understands challenges at every stage of the journey. We help you select the right solution suite to deliver realistic benefits that your organization can aim to achieve. Experts at CtrlSpend help in establishing “Data War Room” to constantly cleanse data from source systems and make it relevant for feed into destination data lake and thereby amenable for driving insights and analytics

CtrlSpend team will establish a program office to ensure the journey of data from source to destination has clear ownership, method of cleansing and enrichment, validation and thereby usage. If you already have a solution suite, we help you sweat the assets through enriching your data.