Spend Analysis Solution

Spendkey Limited

Spendkey is a trusted modern spend management solution designed to help businesses reduce their third-party spend and increase bottom-line savings. With Spendkey, businesses gain access to a 360-degree snapshot of their company's spending habits, enabling them to have a comprehensive understanding of their procurement activities. Spendkey uses the power of artificial intelligence to reduce the spend management process to a few seconds. The platform allows you to ingest all your spend data, which is collected, cleaned, and categorised according to your company’s specific requirements. It lets you categorise your spend based on standard taxonomy or customised taxonomy as per business requirements. Once categorised, this modern spend management solution analyses the data and reveals meaningful insights visible on multi-dimensional dashboards. These dashboards are capable of revealing hidden spend by considering the smallest details regarding every penny leaving your company’s treasury. From identifying tail spend to discovering maverick spend, Spendkey ensures that you do not miss out on any detail regarding your company’s expenses. Spendkey provides granular views of spend for different cost categories. With this level of visibility, businesses are able to identify areas where cost savings can be made. Using detailed spend analysis, businesses can identify cost drivers, identify trends, and uncover savings opportunities. Using Spendkey, you can also gain valuable insights into your supplier landscape with just a few clicks. Spendkey allows businesses to explore and analyse their supplier contracts, track supplier performance, optimise the supplier landscape and provides scope for greater negotiations with suppliers. As a result, businesses can make data-driven decisions and manage their supplier base strategically. Among Spendkey's major advantages is its efficiency. Being a fully automated platform it eliminates the need for manual data extraction and analysis, which can be time-consuming and labor-intensive, thereby providing valuable insights and actionable recommendations quickly and easily. This allows businesses to save time and resources spent on extracting insights from complex data sets.