How does the Analysis module within the Spend Cloud work?

How does the Analysis module within the Spend Cloud work?

With the Analysis module, you have the ability to gain control over expenses and processes using various analyses.

We have developed the spend analyses in collaboration with the procurement consultancy firm Het NIC. The graphs are compiled based on coding from exported invoices. Until the invoice is exported, there is a possibility that the coding may change. To maintain the accuracy of the analyses, we use data only from exported invoices.

To make the most of the different analyses, we recommend activating product groups in your environment. A product group is a collective term for various expenses relevant to that product group. This means that when a product group is named 'Flowers,' all expenses related to the purchase of flowers fall under this group. Using product groups creates a universal way to analyze costs.

You can set up product groups in the 'Application Management' under 'Analysis' and 'Product Groups.' Learn more about setting up product groups.

Audit Information

All actions are automatically recorded in the Spend Cloud. Audit information includes approvals of invoice and order lines, an overview of the authorization scheme, and the opening and closing balances of all bank and cash books in the selected period. This data is validated, ensuring the information's accuracy. An ISAE 3402 Type II statement from Mazars Management Consultants is available, providing an assessment of the design and operation of internal processes and the measures taken to ensure the quality of the service. This means you work with reports and analyses for which you can be confident that the information is correct.

Factsheet Spend Analytics

View the Spend Analytics factsheet to revisit this information at your convenience and to access even more in depth information. Please enter your details below to receive the Spend Analytics factsheet via email.

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