SpendHQ: Delivering a Proven Solution for Strategic Procurement Planning and Performance Oversight SpendHQ’s Spend Intelligence solution, following its merger with Procurement Performance Management platform pioneer Per Angusta in July 2022, has integrated its offerings to enable the continuous, seamless interaction that delivers spend insights to inform and launch Procurement’s next wave of plans, goals, projects, and impact measurements.
As analysts from Spend Matters described in their coverage: “In merging these two solutions, intake, strategy, visibility and execution-based opportunities and insight will come together on both a control tower and category-basis for firms” and that for customers, this will “create a closed-loop procurement and spend management solution that covers the full scope of sourcing starting at opportunity identification all the way until performance and spend analysis and tracking.” (July 12, 2022) Here are key benefits reported by customers from the use of these solutions:
New savings and value can be continuously discovered It’s crucial for Procurement to be able to proactively identify new ways to reduce costs and/or generate more value. Rather than a blanket “cut costs across the board by 15%” mandate, Procurement and Finance leaders use SpendHQ’s solutions to quickly identify clear targets that makes good business sense. As an example, our customers report a 3X average increase in spend compliance with the spend insights they obtain. By connecting your Spend Intelligence with Performance Management, new initiatives – whether focused on savings or strategic goals -- are more data-driven than ever and the reporting is defensible. It also provides transparency and access to more team members, so that you have even more eyes who can discover compelling insights and then proactively propose opportunities on which to capitalize.