Procurement Analytics product tour

Procurement analytics: Unveiling cost savings and efficiency gains

Does your organization have end-to-end visibility into all aspects of procurement?

Comprehensive analytics give procurement professionals the detailed insights required to remain competitive amidst dynamic markets.

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Gain a comprehensive view of procurement

Efficiently track and evaluate procurement key performance indicators (KPIs) with accuracy. Obtain an updated view of metrics such as purchase order amount, agreement leakage, savings and discounts, PO cycle time, supplier quality, and many more.

Improve agreement utilization and compliance

Gain a greater understanding of agreement utilization and agreement leakage by category, business unit, and item. Enable buyers to assess how well they've procured products and services to match business needs.

Proactively monitor agreement expirations

Minimize the potential for lost savings that stem from accidental contract lapses by tracking agreement and contract expirations across multiple dimensions. Visualize contract expirations according to product type, country, supplier location, direct vs. indirect spend, and more.

Full visibility into spend

Quickly analyze spend across different categories, including business unit, geography, and cost center to identify purchasing patterns needed to develop strategies to consolidate suppliers or negotiate better pricing terms.

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Minimize rogue spend

Identify rogue spend to drive sourcing strategy adoption and negotiate the most competitive pricing terms with suppliers.

Example: A high rate of off-contract spend on laptops in certain countries indicates that there’s a potential opportunity to sign new suppliers in this region.

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Drive procure-to-pay efficiency

Understand procurement cycle times to surface—and fix—operational bottlenecks that threaten productivity. Use analytics to identify process roadblocks and reduce time to market.

Minimize risk and improve supplier performance

Analyze supplier performance against contractual benchmarks with detailed metrics such as on-time delivery, accepted, rejected, shipped, short-closed, and return rates. Identify the root cause of poor performance to minimize disruptions to the business.

Investigate company-wide savings

Track negotiated pricing against invoice amounts to determine the organization's realized savings. Minimize instances of overpayment with a detailed look into invoice price variance (IPV).

Examine discounts and savings potential

Develop long-term cost-saving strategies by monitoring the discounts you receive over time along with the savings potential by item. Identify the root cause of lost discounts and unearth areas for spend consolidation by examining purchasing trends.

Obtain an in-depth understanding of purchasing trends

Assess procurement performance by analyzing requisition and purchase order metrics by different dimensions such as category, supplier, project, and cost center.

Procurement and finance data together

Easily analyze end-to-end finance and procurement data from requisition to invoice/payments to determine the root cause of invoice holds and to ensure on-time payments to top suppliers.

Oracle seamlessly bridges finance and procurement data, providing a cross-functional view into company spend, supplier risk, and operational performance metrics.

Enrich your procurement data with additional sources

Oracle Fusion Analytics provides a variety of ways to include data beyond what resides in Oracle Cloud Applications.

Leverage self-service methods to connect to external data sources via native connectors or with simple data files located on your computer.

Or you can curate data together by loading external data into the same data model as your Oracle Cloud Applications data using Fusion Analytics’ data augmentation connectors or any data integration tool of your choice.

Learn more about data enrichment

Next steps

Learn more about Oracle Fusion ERP Analytics

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