New SearchLight Launched: The next level in Description Based Spend Analysis
The latest version of Searchlight, a description based spend analysis tool has just been launched. "The new version of SearchLight takes spend analysis to the next level," Marc Silberbauer of Marshan Technologies told Smart Procurement.
“SearchLight Description Based Spend Analysis software is designed to analyse purchase order transactions by reading descriptions,” says Silberbauer. “It analyses transactions from different purchasing and accounts payable systems and provides a single view of all transactions across the business.”
The original version of SearchLight is an excellent analytical tool that helps organisations to:
• Identify savings opportunities;
• Improve BB BEE expenditure compliance;
• Provide a mechanism for measuring and managing contract compliance;
• Gain the maximum benefit purchasing systems; and
• Provide the information required to support strategic sourcing activities.
“The new version of SearchLight takes spend analysis to the next level focusing on collaboration.
Most large organisations categorise their spend into different commodities or sourcing groups and allocate these groups to commodity managers. The commodity managers need to collaborate with group procurement and the different business units in order to understand and achieve the sourcing and supply chain objectives of their commodity.
SearchLight now allows for different uses to all access the same project. Users can be granted view or edit access control per category depending on their role within the business. So a commodity manager can share results and allow expert users at the business units to refine their analysis.”
“The new tree structure allows group procurement to develop the main sourcing groups (first level of tree) and define the procurement strategy and appropriate structure for the organisation. Group procurement can then allocate the main groups to different specialists within the business who then develop sub-groups and refine analysis. Group procurement has a central view of all activities and can provide different levels of access to other members of the organisation as required.
For each group you can view detailed transaction line information as well as standard tables and charts. Some examples are provided below:”