Are you struggling to thoroughly understand your spending patterns and looking for high-quality spend analysis services that help you do just that? Are you looking to partner with a reliable and experienced provider of spend analysis services that can help you identify and realize significant savings opportunities that were previously unknown to you? Are you looking for efficient and effective ways to better visualize all your data so you can make better sourcing and supplier decisions? If so, you are in the right place.
Flatworld Solutions (FWS) is a leading spend analysis service provider and has helped innumerable companies across the globe better understand their spending, enabling them to significantly cut down on costs. Our spend analysis team is motivated by the same goals as you and measure their success by how much savings are actually realized by your firm. We have worked to address a large variety of spend analysis requirements and our spend analysis experts are highly proficient in using the latest and most advanced spend analysis technology to turn strategy into action and convert your stated objectives and targets into actual, measurable results.
Spend Analysis Services We Offer
Flatworld Solutions is a leading provider of spend analytics services and has a robust spend analysis process in place to help you bring more spend data under management.
Our spend analysis services include, but are not limited to -
Source Identification Services
We identify all the data sources available to compile detailed spend data. We identify which departments, plants, and business units can provide us with spend data. Departments could include general ledger departments, accounts payable departments, eProcurement systems, etc.
Spend Data Consolidation Services
Here, we gather and consolidate all the spend data in one central data repository or database. This step can be complex since data is usually in different formats, languages, and currencies. However, we consolidate and normalize the data for efficient analysis.
Spend Data Cleansing Services
This service is extremely important since in this step we perform a thorough cleansing of the data. Our spend analysis team finds and corrects errors in descriptions and standardize the data for easy and efficient viewing. We also aggregate and enrich the spending data.
Spend Data Grouping Services
In this step, we group or categorize your suppliers to enable better supplier management. For instance, a supplier may be operating through different subsidiaries with different subsidiary names. We group all related subsidiaries to enable better data management and to compare attributes across suppliers and commodities.
Spend Data Categorizing Services
Categorizing the spending data is crucial to determine where the money is being spent. Our spend analysis experts use the latest and best spend analysis software solutions to categorize the data appropriately (for instance, whether they belong to the office supplies, marketing, or travel categories).
Spend Data Analysis Services
This is the most crucial step where we analyze your spend data. Now that all the spending is identified according to the supplier, we ensure that you have negotiated the best contract deals. We also ensure that your buyers are buying from preferred suppliers and look for ways to reduce the number of suppliers per category.
Other Services You Can Benefit From
Why Outsource Spend Analysis Services to Flatworld Solutions?
Flatworld Solutions is a leading provider of spend analysis solutions and has helped numerous clients address their spend analysis requirements. Some other reasons to work with us include -
With our spend analysis services, you receive cost-effective solutions that provide you with the maximum return on investment.
The security of your data is our number one priority. We are also ISO/IEC 27001:2022-certified, ensuring that you can have peace of mind knowing that your data is always safe with us.
All our spend analysis professionals use the latest spend analysis tools and technologies to provide highly accurate and insightful spend analysis services.
All your spend data is aggregated, normalized, and enriched to enable you to bring more spend under effective management.
Improve Contract Compliance
We enable you to improve compliance across contracts and to compare attributes across commodities and suppliers.
Understand Cost Drivers
With our services, you can better understand your fixed and variable cost drivers and enhance cost savings through strategic sourcing initiatives.
Quick Turnaround Time
We are a leading spend analysis service providing company and enable you to significantly reduce your sourcing cycle times.
Our spend analysis team is comprised of highly qualified consultants with experience and expertise in all the leading markets worldwide.
Client Success Stories
Accounts Payable Services Delivered to a US-based Transportation Management/ Logistics Service Provider
We helped regulate the processing of our client's transaction documents by creating a sophisticated cash flow system.
Accounts Receivable Services
Two small companies received our high-quality accounts receivable and claims management solutions.
Outsource Spend Analysis Services to Flatworld Solutions
Flatworld Solutions is a pioneer when it comes to providing high quality spend analysis services to clients from across the world. Our spend analysis team helps you identify the right sources of spend data and then aggregates, standardizes, and enriches the data to bring more of your spending under effective management. Our spend analysis services help you improve contract compliance and allows you to compare and contrast attributes across commodities and suppliers. With our spend analysis services, you can cut costs dramatically by making use of better-informed sourcing strategies.
If you're looking for high-quality and cost-effective spend services, get in touch with us today!
Spend Analysis Services FAQs
What is spend analysis?
It's analysing the spending pattern of your organization by cleansing and categorizing the data on procurement to improve transparency and accountability.
Why is spend analysis important?
Spend analysis is useful in identifying revenue leaks and optimizing procurement and ensuring judicial use of financial resources.