Spend Analytics Release - version 14 is here! with new features and enhancements that further Xeeva’s commitment to Better Data, Better Insights, and Better outcomes. While Xeeva continues to utilize intelligence throughout the procurement process to normalize data quality and enrich data by adding attributes, with our next release of Xeeva Spend Analytics, customers will see improved insights generated by our XVA platform helping them to make impactful business decisions in procurement and strategic sourcing. ...
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No matter the industry, managing spending is always a fundamental focus for any executive team, and nothing impacts spend as much as variation in the purchase price of goods and services. Purchase price variance (PPV) is one of the key metrics – arguably the most important metric – used by procurement teams to measure the variation in the price of purchased goods and services. It is a prime measure of how effective the procurement team...
So now that you know what spend under management (SUM) is, how would you go about adopting such a framework? SUM is built on creating a partnership between indirect procurement and operations along five key operating principles across sourcing, contracting, buying, and spend decision-making. At its foundation is executive leadership with joint operating targets established between indirect procurement and the operating groups they support. The actual SUM model measures the maturity of the organization across...