Spend Intelligence
Key Benefits
- Have real-time budget vs. actual numbers at your fingertips
- Gain clear visibility and control over how your organization spend money
- Prevent wasteful spending and reduce expenditures
- Improve insight into cash flow and understand your true cash position
- Improve compliance with internal policies and external regulations
- Eliminate hours or days of manual labor each month
Drill Down Deep Into Your Spend
When you combine Verian’s suite of intelligent purchase-to-pay solutions with our Spend Intelligence module, you can view, track, and analyze every penny of your organization’s spend. With this intelligence at your fingertips, you can pinpoint areas to reduce costs, enforce policies, and eliminate redundancies.
What Are You Buying?
Spend Intelligence from Verian gives you a detailed, panoramic view of your entire spend – not just snapshots. See what contracts are being used by your employees and what suppliers are honoring them. Take a closer look at spending trends to uncover fraud. For example, one purchasing department discovered an annual spike in office supply requests in early fall, right before school resumes.
Key Reports
- Category report
- Contract utilization by category (seen below)
Who Are You Buying From?
Spend Intelligence from Verian makes it easy to see all the suppliers you use across the entire enterprise and consolidate to leverage better pricing. Drill down deeper to analyze spend by office/branch to ensure company-wide compliance. Drill down ever further to see which suppliers are offering early-pay discounts – and which are being utilized. Also make sure that traveling employees are using contracted hotels, rental cars and airlines.
Key Reports
- Total PO spend by vendor (seen below)
- Vendor category spend
- Contract utilization by vendor
- Expense report compliance
How Much Have You Spent?
Verian’s Spend Intelligence module serves as a central repository for budgeting and spend data that can be accessed, updated, and shared across your entire enterprise. With Spend Intelligence, you and your team have complete and accurate visibility into every line item of every budget. Purchasing, accounts payables and other departments are all connected to the same information, including:
- How much has been ordered and how much remains on all budgets
- Detailed spend tracking on a project-by-project basis
- Who is ordering off each budget and what they are buying
Key Reports
- Budget spent vs. actual (seen below)
