BEST-OF-BREED PROCUREMENT ANALYTICS
Analyze your way to procurement success
Get precise answers with real-time analytics to know the best way to act. Closely track supplier risks, cost/price fluctuations, and demands. Automatically uncover opportunities for savings and empower your teams to act on them. Cut costs and increase procurement efficiency with out-of-the-box analytics for categories, suppliers, item-level data, and more. Anyone in your organization can get started in minutes.
Fast, flexible no-code analytics for all your procurement data
How Ignite solves your procurement analytics challenges
Low transparency & hidden opportunities
Global spend visibility with intuitive, configurable dashboards showing spend information by category, location, suppliers, item-level details, etc. to boost strategic decision-making and savings.
Bad, unreliable data unfit for analysis
Flawless and optimized spend data you can trust. Categorized and enriched as per your unique needs to enable clear and informed insights for maximum impact.
Rigid, legacy systems inept for quick action
Dynamic NLP and Machine learning algorithms that embed market intelligence, forecasts, trends to automatically visualize important information, and uncover opportunities and risks.
Generic or rudimentary analytics
A tailor-made solution crafted to your specific needs that begins with identifying your current analytics maturity and procurement goals, and then applies analytics in ways that support those goals.
A one-stop shop for all your strategic procurement analytics needs
Imagine a simple yet powerful procurement analytics solution combined with the expertise of industry-leading procurement experts who understand your goals and challenges, and can help you achieve success at unprecedented speed and effectiveness.
Our solution gives you a 360 degree of your spending so that you can identify opportunities, create predictive cost models and price forecasts, monitor contract compliance and spending, optimize payment terms and improve cash flow, understand purchase price variance, track supplier performance, and craft proactive strategies to boost profits.
How Ignite turns raw data into real value
Raw customer data
Data that's raw, unreliable and inconsistent is scattered across different systems and hard to work with.
Ignite consolidates, connects, maps, and cleans this data to give you a transparent, global perspective on procurement.
Ignite provides your team with a view of your data that you can't get anywhere else. It helps you identify data gaps and fill them in as part of the data cleaning process, so you can achieve the additional perspective you need to make better decisions.
Now that you have a clean view of your data, Ignite can use AI and enrichments from third parties to give you a proactive view of your spend and suppliers so that you can make the best decisions for your organization.
These enrichments let you access multi-dimensional supplier details, spot risky suppliers, track current and historical currency changes and get accurate commodity prices to strengthen your business.
Classify and standardize
Ignite also automatically categorizes and analyzes even the spend with low-quality free-text descriptions and uses Machine Learning algorithm to classify your spend into a global classification system, such as the UNSPSC.
Knowledge and insights
Now it's time for our best-practice insights and analytics to hover on top of your 360 degree and robust data foundation to uncover the opportunities and actionable intelligence you need to make timely and informed decisions.
Congratulations! Your data is processed and interpreted, and is all set. You now have the visibility and actionable intelligence you need. Here, Ignite helps you realize not just actions and opportunities but actual savings and value within the solution.
Spend development KPI dashboard
How is my spend trending? What items are increasing the most? Who are my new suppliers? Who am I buying from the most?
By providing you with spend profiles on various metrics Ignite helps you answer these questions and identify opportunities for consolidating your suppliers and optimizing your tail spend.
Savings opportunities dashboard
What are my best opportunities for savings
Where can I bundle or consolidate my supplier base?
Which items have the highest impact on price increase?
Procurement often gets asked these questions from finance and other stakeholders as saving and optimizing costs are critical components of procurement function.
Ignite lets you play with a variety of possible scenarios, create cost models and forecast price developments to help you make informed decisions.
Supplier renegotiation analytics: internal and external
Why has my price increased for all articles, despite a significant increase in the volume
Why have my prices increased more than the commodity prices?
These questions can be critical when your team needs to act swiftly and take action that will bring positive results to the company.
Ignite's advanced procurement analytics tool can provide added insight by allowing you to identify your largest suppliers, summarize the payment terms, monitor price development, and compare internal and external data. This means you can dramatically enhance savings and net working capital.
Contract management dashboard
How is my contract compliance developing overtime and how does it vary across categories and business units?
Am I getting the agreed terms and conditions from my suppliers?
Which contracts are expiring soon or need renewal?
Is there a tender process to be initiated
Ignite's help you answer these burning questions by helping you monitor your contract spend and compliance, optimize payment terms and minimize price variance.
Some other benefits of using Ignite Procurement Analytics
Advanced analytics, bespoke dashboards and visualization to help you uncover cost-saving opportunities such as negotiations, bundling, consolidation, and risk across your spend and suppliers. Plus, predictive models will help you compare your total landed costs with key business metrics.
Improve how you spend by spending more time doing the strategic tasks. Ignite gives you access to hundreds of dashboards and widgets that you can use to perform analyses and build reports. You can also export all your data to Excel and PowerPoint or share it with your team and stakeholders from one convenient location - in a click.
Boost bargaining power
Go into negotiations armed with powerful data, analytics, and insights. Use our competitive supplier information that also benchmarks supplier performance and price against the market to help you select the right supplier for a task.
Think and act sustainably
We’ll help you see how your purchasing strategies align with your sustainability goals. This can, for instance, be achieved by way of automatic enrichments and AI. Simply feed your data into us, and find out how big your carbon footprint is.
Strengthen supplier relationships
Conduct supplier evaluations by looking at multiple attributes of their business practices. Rank your top suppliers and compare them to find the one that is best suited to meet your needs.
Procurement analytics for all
Our best practices can help you customize the system to suit your needs. You can use filters to gain deeper insights or click on interactive charts for dynamic drill-downs. You can define scripts (or formulas) to calculate and reflect your data more effectively.
Detect irregularities with alerts
Don't miss a key detail again. Our alert notifications are sent to you as soon as an irregularity occurs so that you can be proactive with your decisions.
Continuous support and world-class service
Designed to make your lives easier, Ignite’s relentless customer support and battle-proven methodology does all the heavy lifting so you can focus less on analysis and more on actions.