Categorize Spend in 3 Simple Steps—With Granular Accuracy and Confidence
No IT support or programming required
- Identify the largest pockets of your spend
- Pinpoint which suppliers you are buying the same products or services from
- Precisely know where your spend is increasing the most
- Uncover opportunity hotspots for your savings, risks, and performance initiatives
- Detect abnormalities within a specific category
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Where categorization meets enrichments and expertise
How Ignite takes spend categorization to the next level
Fast data consolidation and enrichment
Seamlessly consolidate your data across all sources and formats. AI algorithms, third party enrichments, and advanced cleaning options to create a harmonized data foundation you can trust.
Simplified and tailored taxonomy creation
Simplify your taxonomy creation process by creating logical connections between your cleansed and enriched data foundation to your taxonomy – whether you have an existing category tree or need to build one.
Faster, better, and data-driven decision making
Empower your team with 360 degree visibility and intuitive dashboards showing information by category, location, suppliers, item-level details, etc. to boost strategic decision-making and savings.
Get deep understanding of category trends
Spot category trends to understand the larger industry context of the category and to plan for impacts that will affect future requirements.
Detect abnormalities across and within specific categories
Gain competitive intelligence by learning how to leverage category structures to identify and combat weaknesses within a category or between categories.
Discover savings and bundling opportunities
Gain the ability to track spend by category—which means you can negotiate better prices with your suppliers, uncover opportunities, and reduce tail spend.
Uncover risks in your supply chain
See which procurement categories have the highest likelihood of risks, and use this insight to uncover areas within your supply chain to focus on.
Here are the most frequent questions we get:
- Why should my company use Ignite spend categorization?
It's all about making informed decisions.
First of all, it's a way to make sure that your data is accurate and complete. If you're trying to evaluate how much money you're spending on something, you need to know what that something is. Spend categorization helps you figure out what everything costs so you can make informed decisions about whether or not it's worth it. It also helps you identify areas where there are opportunities for cost savings and strategic sourcing initiatives.
It's also an important part of ensuring that everyone in your organization understands the same language, thus, avoiding confusion and wasting time on unnecessary tasks.
- What makes Ignite different?
We're glad you asked!
At Ignite, we're dedicated to adapt to your business needs and keep your categorization relevant and up-to-date.
We've built a platform that can be customized to fit any type of industry—from direct spend categories like "IT Equipment" to indirect spend categories like "Payroll Services." We have customers across numerous industries and different categories, from which we have gained deep experience into building fit-for-purpose and customized taxonomies.
All Ignite customers have implemented their taxonomy in the solution, across direct & indirect spend.
We're happy to share examples with you—just let us know if you're interested!
- Our data quality is too poor or We don't have a data warehouse. Can Ignite still help our company?
Even if your company lacks a data warehouse or has low-quality data, we can bring all of your data into one place and transform it to make it more usable for you. Just send us a sample of the data you have, and we'll tell you how best to use Ignite.
- Is Ignite secure?
Our responsibility to protect the data of our customers is a heavy one, and we take it seriously. When you entrust your spend data to Ignite, you can be assured of our commitment to safeguarding your information and meeting the highest levels of security.
Ignite is GDPR compliant, and our server and data permissions are managed through IAM solutions. Our data in databases are encrypted using the 256-bit Advanced Encryption Standard (AES-256). These data keys are themselves encrypted using a key stored in a secure keystore, and changed regularly.
Ignite also has a host and network-based Intrusion Detection System (IDS) that scans for viruses, malware, vulnerabilities etc on all our static assets (generated and uploaded) on several levels and provides threat detection for intrusions, and malware, spyware, and command-and-control attacks on our network.
In addition, Ignite secures and ensures the reliability of our external-facing resources including websites, APIs, and applications. Our CDN service provides DDoS protection, rate limiting, API protection and Web Application Firewall (WAF) to protect and secure Internet properties against denial-of service attacks, customer data breaches, and abusive bots.
Meet Ignite Procurement
An advanced yet simple spend management solution that gives you the power of correct and holistic data and the right kind of visibility that empowers meritocratic decision-making. This way, you not only save money and avoid risk but also make smarter choices and drive value across your organization.
What our customers say
“By displaying data in charts, graphs, and dashboards, Ignite gave us the power to interact with our data. With the amalgamation of improved visibility and easy-to-use analytics, we got the numbers we needed for selecting and conducting fact-based savings projects.”
“We are astonished by the speed of implementation of the solution and the support provided by the Ignite Procurement team. We now have the numbers we can trust on our fingertips to make our reporting efficient, insightful and our decision-making powerful and data driven.”
“To work strategically with procurement a precondition is to gain control over suppliers and spend.”
“Ignite stops the drudgery of maintaining and updating complex data sets. It lets us focus on what we do best - discovering areas for improvement, defining strategies and making data driven decisions. Ignite has helped us meet our compliance obligations, emission-reduction goals, and has dramatically boosted our productivity.”
Ready to get real results from your spend data
Ignite offers a fast, reliable, and granular solution that leverages AI and enrichments to give you the most accurate spend categorization in the industry. So you can boost your category team's performance and help them make the most informed decisions possible.