Advanced analysis tool unleashes power of procurement data
Local procurement specialists, Cutting Edge Procurement, have launched an advanced procurement information analysis solution. Director Johan Grimbeek, tells Smart Procurement it is now possible to draw more than 100 predefined procurement related reports across many different technology platforms and millions of transactions.
“In the current knowledge economy, it is now an indisputable fact that information is the key to organisations gaining competitive advantage,” says Grimbeek.
Cutting Edge Operations Director, James Yates, says that the locally developed system has already been used successfully by large corporates in analysing millions of transactions over several years across multiple technology platforms.
“The largest transaction volumes that we have analysed so far was +/- 160 000 purchase orders per month over a 5 year period,” he says. The type of reports (a sample of the more than 100 reports available) inlcude:
– uncontrolled spend (spend outside procurement business processes)
– Business Process efficiency (timing from all aspects of business process)
– Vendor supply performance (delivery performance by time, quantity etc)
– Transaction data integrity (description interrogation etc)
– master data integrity ( vendors / materials / contracts etc)
– BEE management (value / quantity / number of lines / percentage against total spend etc)
– Open item management ( open PREQ / Purchase orders / invoices etc )
“On top of the above we provide automatic management package generation and distribution as well as reclassification of any data,” he says.