Redundancy and overspend are often the result of poor visibility into Supplier spend. For this reason, a centralized procurement system, equipped with granular level data analytics is necessary. Tungsten Analytics, used by Buyers in conjunction with Tungsten Network e-invoicing, ensures contract compliance, reduces costs, and improves procurement controls.
Available to current network customers, Tungsten Analytics helps Buyers improve control over spending with a robust reporting tools. Tungsten Network Analytics derives its analysis from invoice line-level detail and is able to model costs at the supplier, category, and product level. Other key benefits of Tungsten Analytics include:
- Real-time and historical price variance analysis
- Quick and simple to use
- Rationale for vendor consolidation
What’s more, enterprises who use Tungsten Network Analytics are saving an average of 1-4% of total spend. Now those are results you can bank on!
Find out more about Tungsten Network and how having a properly equipped centralized procurement system can benefit your organization by downloading this informative paper.