Spend visibility is typically classified into a number of levels, ranging from a low level (level one) through to a high level with much more detail and insight (level four).
Yet, certain users of spend analytics solutions continue to believe that having their data only available at a superficial level will generate the same business value and ROI as that of users who have made the effort to integrate their data down to the deepest level of detail where all relevant information can be used.
Rosslyn has developed a model of how organisations can sequence the business application of spend analysis to drive short, medium and long-term value. By doing this, organisations can gain greater visibility and insight into their addressable spend, allowing them to identify savings down to the purchase order level.
The more data you have at a greater detail level, the more savings you’re able to create.
You can apply insight to a plethora of business questions beyond just knowing who you are spending money with, on what and at what price.
This has transformed our onboarding processes, now I can be confident that we’re only contracting with vendors that meet our ethical standards, legal requirements and responsibility to our customers.