Posts in Finance
What is Procurement Spend Analysis?
What is Procurement Spend Analysis?

Spend analysis is the process of gathering, cleansing, aggregating, categorising, and transforming company spend data, that provide procurement, with the insights that drive value, innovation, efficiency, effective sourcing with risk mitigation. Analysis that gives procurement the foundation and data support, to make faster, better, informed decisions, that are aligned with the company & procurement objectives.

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Procurement, Supply Chain, Purchasing, Finance, Direct ProcurementEdward McGeachiedata, supply chain, spend analysis, opportunity assessment, Procurement Spend, data preparation, spend analytics software, spend analysis software
Chart of Accounts : Spend Analysis
Chart of Accounts : Spend Analysis

Chart of Accounts is normally held by the finance team, in the form of an indexed document or guide. Chart of accounts provide a list of General Ledger codes that form the basis of all the transactions taken within the company, for spend analysis, accounts payable information is used.

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Procurement, Supply Chain, Purchasing, Finance, Direct ProcurementEdward McGeachiedata, supply chain, spend analysis, opportunity assessment, Procurement Spend, data preparation
How to Conduct Data Preparation Spend Analysis? 8 Step framework
How to Conduct Data Preparation Spend Analysis? 8 Step framework

A solid foundation is critical to the success of creating a data-driven spend analysis culture. Data preparation spend analysis, involves extracting, transforming, organizing, verifying, essential data required to build procurement spend analytics reporting.

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Procurement, Supply Chain, Purchasing, Finance, Direct ProcurementEdward McGeachiedata, supply chain, spend analysis, opportunity assessment, Procurement Spend, data preparation