Drill Down Deep Into Your Spend Verian s Spend Intelligence module features exclusive multi-layer data extraction that gives you a deeper level of visibility on a wide variety of reports, spend metrics and KPIs. You can drill down from a highlevel overview all the way into raw, transaction-level data.
WITH SPEND INTELLIGENCE FROM VERIAN TECHNOLOGIES When you combine Verian s suite of intelligent purchase-to-pay solutions with our Spend Intelligence module, you can view, track, and analyze every penny of your organization s spend. With this intelligence at your fingertips, you can pinpoint areas to reduce costs, enforce policies, and eliminate redundancies. What Are You Buying? Many organizations want more controls over their purchasing, but they don t have the visibility to enforce it. As a result, they don t have a clear picture of what they are buying and struggle with missed discount opportunities, waste and fraud. Spend Intelligence From Verian Technologies gives you a detailed, panoramic view of your entire spend not just snapshots. See what contracts are being used by your employees and what suppliers are honoring them. Take a closer look at spending trends to uncover fraud. For example, one purchasing department discovered an annual spike in office supply requests in early fall, right before school resumés. Spend Intelligence gives you the visibility you need to enforce spending controls and policies. Category Report 11K Total PO Spend by Category (Top 5) 11K Total PO Spend 2 - Year Trend Computer hardware Computer software Furniture Legal Services Marketing Supplies Jan Feb Mar Apr May 29 21 Jun Jul Aug Sep Oct Nov Dec Contract Utilization by Category Contract Utilization by Category (Top 5) 11K Computer hardware Computer software Furniture Legal Services Marketing Supplies Off Contract On Contract
Who Are You Buying From? Many organizations also do not have the means to quickly and easily analyze the broad scope of vendors they do business with. The lack of vendor visibility causes unnecessary redundancy, complexity, and may even drive up price. Instead of buying office supplies from three different suppliers, imagine the savings and simplicity of just using one preferred supplier. Spend Intelligence from Verian Technologies makes it easy to see all the suppliers you use across the entire enterprise and consolidate to leverage better pricing. Drill down deeper to analyze spend by office/branch to ensure company-wide compliance. Drill down ever further to see which suppliers are offering early-pay discounts and which are being utilized. Also make sure that traveling employees are using contracted hotels, rental cars and airlines. Spend Intelligence gives you the power to consolidate and drive down costs by sourcing strategically. Total PO Spend by Vendor Vendor Category Spread Total PO Spend by Vendor (Top 5) Vendor Category Spread by Category (Top 5) 18K 25 1 2 18K 72K 36K Number of Vendors 15 1 5 Budget Interiors Dell Computer Legal Partners LLC Office Depot Verian Technologies Instruments Production Electrical Valves Compressors Contract Utilization by Vendor Contract Utilization by Vendor (Top 5) Expense Report Compliance Compliance Analysis by Expense Type for Chicago Location 3K 9K Number of Vendors Used 24K 18K 12K 6K 72K 54K 36K 18K Compliant Non-compliant Budget Interiors Dell Computers Legal Partners LLC Off Contract Office Depot Verian Technologies On Contract Airfare Hotel/Lodging Meals Membership/Subscriptions Parking Registration Rental Car Tuition Reimbursement Wellness Benefit
How Much Has Been Spent Against Budget? In addition to knowing what you re buying and from whom, organizations need real-time access to budget accruals. Without accurate budget data, management is often forced to make critical spend decisions in a vacuum. Verian s Spend Intelligence module serves as a central repository for budgeting and spend data that can be accessed, updated, and shared across your entire enterprise. With Spend Intelligence, you and your team have complete and accurate visibility into every line item of every budget. Purchasing, accounts payables and other departments are all connected to the same information, including: How much has been ordered and how much remains on all budgets Detailed spend tracking on a project-by-project basis Who is ordering off each budget and what they are buying Spend Intelligence gives you the budget data you need to make critical spend decisions. Budget Spend vs. Actual Percentage of Total Budget 1% -1 Budget Analysis (Top 5) 9-126 5-95 7-248 Understanding spending patterns is the first step to saving money, increasing control, and boosting productivity. 9-163 Held Committed Expensed Remaining Other Reports Available Vendor fulfillment rate Lead time Spend analysis Spend by: Total, vendor, location/group, manufacturer, item category, contract Statistics: Average cost, requisition volume, requested vs. approval total, requisition to approval turnaround, requisition to PO turnaround Invoice exception rate by location/vendor Invoice capture metrics Invoice processing metrics Invoice payment metrics Invoice discrepancies Payment reports Spend Intelligence from Verian Technologies helps you make sound financial decisions faster, easier, and with more confidence. Spend intelligence is available for Verian s full suite of purchase-to-pay solutions including Purchase Manager, Expense Manager, Asset Manager and Invoice Automation.