Xeeva is always in a continuous journey of enhancements to improvise the performance of its solutions. Today we want to highlight the new features as well as the strategic enhancements to the existing features that help in bringing completeness to our solution of Spend Analytics.
First, let us highlight the enhancements over the existing features as below:
Enhancement – Vendor Code of Supplier
This is an important enhancement that helps in uniquely identifying a supplier in the customer’s ERP (Enterprise Resource Planning). Xeeva can now accept the Customer’s ERP system vendor code and display insights on dashboards. This enhancement feature helps Xeeva customers to reconcile suppliers between Spend Analytics application data and their internal ERP systems. Vendor code after its extraction from the P2P system is displayed in the spend analytics platform in the below views:
- Supplier Dashboard Supplier Family Detailed View
- Summary download view
- Full download view
New Filter – “Contracted” vs “non-contracted”
This new filter labeled “Contracted” has two values “Contracted” and “Non-contracted” which allows users to see the data filtered only for the Key suppliers or non-contracted suppliers.
Improved Item Matching and Clustering – Display Xeeva Item Id
There has been significant improvement in Xeeva’s Item match process. During the process, the AI/ML uses various item attributes to match and cluster the same items. Now, in this release, this process has been expanded to match “like” items more accurately, thereby differentiating between the same and related items which might have been difficult earlier. Here “Xeeva Item Id” comes into the picture to differentiate items in the display insights
Enhancement – Purchase Price Variance (PPV) calculation
Since these values rely heavily on item matching and clustering process, with the improvements in item matching, there may be an increase or decrease in PPV calculations and here as well, the Xeeva Item Id is displayed in the insights
Enhancement – Purchase Price Variance (PPV) baseline price calculation
With improvements in the item matching process, the baseline pricing method was also improved. Now, even if previous pricing data is not available for an item, price variance can now be calculated using the first purchase price of the spend year as the baseline price unless a specific baseline is made available from the customer., and Xeeva Item Id is displayed now in all PPV related charts and insights.
Enhancement – Improved supplier mapping
There have been further improvements in identifying and mapping a supplier Name to a Supplier Family that can be reflected in the insights: Catalog Dashboard – Spend by Supplier Family
Enhancement – Type of Spend Standardization
Here Xeeva introduces the mapping of several types of spend (aka requisition paths) to one of the three standard requisition paths: “Catalog”, “Inventory”, and “Spot Buys.” Wherever a requisition path is not specified, the spend will be treated as a “Spot Buy” for savings insights. Following are the enhanced insights:
- Home Page – Service Contract Compliance
- Home Page – Convert Frequent Spot Buys to Contract
Enhancement – Item Description Enhancement
The item description is now an automatically enriched description, or a cleansed description whenever enriched description is not available. If neither is available, the original customer-provided Item description is displayed.
Enhancement – Item’s Part vs Service identification
Now it is possible to identify whether an Item is a Part or a Service at the item level. With Xeeva’s focus on item-level detail, this improvement is being rolled out to flag each item as either a part or as a service for greater accuracy.
Note: Customers may not be able to see a few of the highlighted enhancements as above since enhancements are being rolled out in phases, some of these being aimed to roll out along with customers’ monthly refresh of spend data.
AND NOW,
We want to focus here more on our major new feature which makes our solution unique and more useful than others in the market and that is Xeeva IQS- Item Quality Score
Xeeva has released its new feature of Item Quality Scoring. With this insight, it is possible to visualize whether the item data is complete, rich, and usable for sourcing and classification-related activities.
Included in this new feature is a scoring filter that enables users to choose one or more of the unique four quality ranking items and display data distributed based on the tiered values on the Homepage of the solution platform.
For additional details about the new features and enhancements, please contact Xeeva Customer Success team.
Compiled by:
Pallavika Barthakur
Senior Marketing Specialist, Xeeva Inc.