Analyzing company spend through machine learning
What is Spend Analytics
Spend Analysis is the process of collecting, cleansing, classifying and analyzing expenditure data with the purpose of decreasing procurement costs and improving efficiency.
Why AI for Spend Analytics
Use the right data
Procurement and Audit managers need precise, granular data in order to identify possible optimizations. Making sense of varied, unstructured sources of data is very difficult. With its document parsing solution, Kantify helps procurement managers and chief financial officers analyse multiple sources of information, classify products, and rapidly identify possible optimization.
Focus your time on delivering value
Analyzing spend data takes time and efforts. By using AI for spend analytics, you can focus your efforts on what brings value to your company's finances : the identification and implementation of financial optimization.
Predict your budget and adapt your prices
What if you could use past spend data to predict your future costs and adapt your prices accordingly? By using your spend data, you can identify price evolution trends and make business decisions accordingly.
Spend analytics is a topic we love. Get in touch if you want to learn more !