In the fast-paced world of procurement, understanding spend and identifying opportunities is the foundation for strategic sourcing decisions. Whether you’re preparing quote packages, negotiating pricing, generating cost reduction ideas, or prioritizing resources, having a comprehensive view of your organization’s spend is crucial.

While robust ERP systems have long been touted as the solution for meaningful spend analytics, the reality is that siloed data and non-transacted spend can render these systems ineffective. Organizations that lack a unified view of their spend often find themselves misaligned, inefficient, and missing out on substantial cost-saving opportunities.

The Manual Struggle

Many organizations still rely on manual processes to cobble together spend data from disparate sources, each with varying formats, timelines, and assumptions. This approach is not only time-consuming, but it’s also prone to errors and lacks the ability  to replicate analysis consistently. Teams end up spending more time collecting and presenting data than really analyzing it for optimization.

Unleashing the Power of PlaidCloud

PlaidCloud offers a game-changing solution to this age-old  problem of spend analytics. The platform consolidates and transforms spend data for organizations with robust but siloed ERP systems – bridging the gap between business units. And that’s not all, PlaidCloud can also unlock the potential of non-transacted spend, providing unprecedented visibility into areas that were previously obscured.

For instance, an original design manufacturer (ODM) that designs printers and outsources to contract manufacturers traditionally would only transact as the top-level printer in their ERP system. This has left teams to grapple with non-transacted sub-components and subassemblies. With PlaidCloud all organizations can gain granular insights into spend across the entire bill of materials (BOM)  – unlocking opportunities for cost savings, better strategies, and faster implementation.

Spend Analytics PlaidCloud screenshot

Questions that were once left unanswered, due to data limitations, can now be addressed systematically and limited only by the analyst’s creativity. PlaidCloud empowers organizations to make data-driven decisions that provide for substantial savings and operational efficiencies. This includes identifying cost discrepancies for the same part across different suppliers to optimizing spend on seemingly insignificant components like screws or packaging .

In the world of strategic sourcing, spend analytics is the foundation upon which successful strategies are built. With PlaidCloud, organizations can finally harness the power of their data, bridging the gap between transacted and non-transacted spend, and unlocking a new era of cost optimization and operational excellence. Want to learn more? Start with a conversation. Contact PlaidCloud today >