Procurement Analytics
Learn how to use the analytics features to gain insights into your procurement operations and make data-driven decisions.
Summary
The Procurement Analytics dashboard transforms your procurement data into actionable insights. This powerful tool helps you optimize spending, track savings, and improve supplier relationships through comprehensive data analysis and visualization.
Effective use of procurement analytics typically results in:
- 5-15% reduction in procurement costs
- 20-30% improvement in supplier performance
- 40-50% faster decision-making process
Risk and Compliance Benefits
- Real-time monitoring of supplier performance
- Early detection of compliance issues
- Automated risk alerts for price variations
- Audit trail for all procurement decisions
Key Metrics Overview
Monitor critical performance indicators:
- Total spend: Track overall procurement expenditure across all categories and suppliers
- Number of requisitions: Monitor procurement activity and process efficiency
- Savings opportunities: Identify potential cost reductions and optimization opportunities
Regular monitoring of these metrics helps identify trends early and supports proactive decision-making.
Savings Analysis
Leverage different savings types to maximize cost reduction:
- Swap savings: Identify opportunities to switch to more cost-effective alternatives
- Store savings: Track discounts and promotions across different stores
- Price Drop Savings: Monitor and capitalize on price reductions
Use these insights to develop targeted cost-saving strategies and measure their effectiveness over time.
Date Range and Activity Analysis
Date Filtering
The flexible date selector enables you to:
- Compare performance across different periods
- Identify seasonal trends
- Track year-over-year improvements
- Analyze the impact of specific initiatives
Recent Activity
Monitor platform engagement through the activity dashboard:
- Track user adoption rates
- Identify most active users and departments
- Spot potential training needs
- Measure the success of new feature rollouts
Customer Insights
The Customers section provides valuable buyer behavior analysis:
- Track individual and team spending patterns
- Identify high-performing users and teams
- Monitor compliance with procurement policies
- Discover opportunities for process improvement
Filtering Options
Customize your analysis with precision:
- Created at: Track new user onboarding and adoption
- Country: Compare performance across different regions
Use these filters to identify best practices in high-performing regions and apply them across your organization.
Detailed Reporting
The Reporting section offers deep insights across multiple dimensions:
- Countries: Compare regional performance and identify market-specific trends
- Products: Track product category performance and identify optimization opportunities
- Suppliers: Evaluate supplier relationships and performance metrics
Advanced Filtering
Refine your analysis with powerful filters:
- Date: Analyze trends over specific time periods
- Country: Focus on regional performance
- Supplier: Evaluate individual supplier relationships
Report Customization
Create targeted reports focusing on key metrics:
- Spend: Track and analyze expenditure patterns
- Requisitions: Monitor procurement process efficiency
- Swap Savings: Identify and track cost reduction opportunities
- Missed Swap Savings: Discover untapped saving potential
Search Analytics
The Search section reveals crucial user behavior patterns:
- Understand what users are looking for
- Identify gaps in product catalogs
- Improve search functionality
- Optimize the procurement experience
Comparison Mode
Benchmark performance effectively:
- Compare different time periods
- Identify trends and patterns
- Measure the impact of improvements
- Track progress against goals
Search Metrics Analysis
Key metrics to optimize the procurement experience:
- Total Searches: Track overall platform usage
- Searches without Results: Identify catalog gaps and improvement opportunities
- Searches without Clicks: Spot mismatches between user intent and search results
- Results Quality: Measure and improve search effectiveness
Quote Analysis
The Quotes section helps optimize your RFQ process:
- Track supplier response times
- Monitor quote quality
- Identify bottlenecks
- Improve overall quote management efficiency
Grouping Options
Analyze quote data from multiple perspectives:
- Country: Understand regional quote patterns
- Supplier: Evaluate supplier responsiveness
- Combined View: Get comprehensive insights across regions and suppliers
Use multiple grouping options to identify best practices and areas for improvement in your quote management process.
Quote Filters
Fine-tune your quote analysis:
- Requestor: Track individual buyer performance
- Country: Compare regional quote processes
- Supplier: Evaluate supplier quote behavior
- Custom Filters: Create specialized views for specific needs
Interactive Tutorial
For a detailed walkthrough of the analytics features, watch this interactive tutorial:
- Summary
- Risk and Compliance Benefits
- Key Metrics Overview
- Savings Analysis
- Date Range and Activity Analysis
- Date Filtering
- Recent Activity
- Customer Insights
- Filtering Options
- Detailed Reporting
- Advanced Filtering
- Report Customization
- Search Analytics
- Comparison Mode
- Search Metrics Analysis
- Quote Analysis
- Grouping Options
- Quote Filters
- Interactive Tutorial