Spend Analysis

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Successful spend strategies depend on good data, structured processes and insightful analytics. But trying to make sense of large volumes of data, often from multiple systems and even in multiple languages, is impossible without the right tools. web3 Spend Analysis provides automatic, accurate classification for historical spend data, empowering procurement to increase savings and boost organisational efficiencies.

SPEND ANALYSIS BENEFITS AT A GLANCE

MAKE INFORMED NEGOTIATIONS

Better negotiate supplier pricing based on a clear, consistent and comprehensive understanding of historical category and supplier spend.

IDENTIFY PRICE VARIANCES EASILY

Realise saving opportunities. See at a glance where you are buying the same items from multiple suppliers, and at different price points. 

EMPOWER SOURCING ACTIVITIES

Trigger new sourcing events at the click of a button – from any savings opportunities identified in spend analysis. 

RATIONALISE PAYMENT TERMS

web3 Spend Analysis provides granular data analysis, helping you to improve cash flow. It also highlights variance in supplier contracted and actual payment terms and eliminates geographical inconsistencies.

Wax Digital Feature Highllights

FEATURE HIGHLIGHTS

Accurately classify, enrich and understand enterprise spend

Intelligent analysis
Powerful AI learns spend patterns and behaviours, such as naming conventions and classifications, aggregating that learning from clients around the world to build a data ecosystem capable of analysing millions of transactions in any languages.

Your data your way
web3 learns from your history and rules of classification, powering highly customised insights and reports, with our team of specialised QA experts rigorously checking the data to guarantee exceptional accuracy.

Custom reporting
A bespoke taxonomy to suit your needs defines procurement data in a custom reporting structure, allowing spend to be assigned to the correct source and highlighting where resources or funding may need adjusting.

A universe of data
Supplier data is automatically normalised by cross-referencing against the universe of known supplier data – rationalising parent and child organisations and multiple versions of the same supplier.

Continual improvement
Reclassification is immediately available to all users, allowing you to make changes and correct mistakes by using either an online form or via a point and click environment in the application itself.

Wax Digital Feature Highllights

FEATURE HIGHLIGHTS

Accurately classify, enrich and understand enterprise spend

Intelligent analysis
Powerful AI learns spend patterns and behaviours, such as naming conventions and classifications, aggregating that learning from clients around the world to build a data ecosystem capable of analysing millions of transactions in any languages.

Your data your way
web3 learns from your history and rules of classification, powering highly customised insights and reports, with our team of specialised QA experts rigorously checking the data to guarantee exceptional accuracy.

Custom reporting
A bespoke taxonomy to suit your needs defines procurement data in a custom reporting structure, allowing spend to be assigned to the correct source and highlighting where resources or funding may need adjusting.

A universe of data
Supplier data is automatically normalised by cross-referencing against the universe of known supplier data – rationalising parent and child organisations and multiple versions of the same supplier.

Continual improvement
Reclassification is immediately available to all users, allowing you to make changes and correct mistakes by using either an online form or via a point and click environment in the application itself.

NEXT STEPS…

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