Description of Services
Spend Management has evolved over the years from being a simple solution to identify areas of cost savings to supporting business goals with management of supply chain risk, strategic sourcing, better vendor negotiations, reducing working capital needs for supply chain, etc.
Our Spend Management Services
Scope's Spend Management services help companies to manage their supply chain more efficiently. Our Spend Management Services are based not only on transactions that take place within the ERP systems, but more importantly will also include transactions that occur outside the ERP system. These outside ERP transactions are commonly referred to as "Free Text" or "Maverick" spending.
In addition to providing all types of basic reports for spend analysis, Scope also provides trend reports based on changing commodity prices. This gives companies the added advantage of knowing if they are getting the right prices from their suppliers.
Scope also assists companies in managing supply chain risk. We create reports and analytics based on accurate spend data to ensure that all critical categories of a company's supply chain are free of supplier risk. In addition to this, we also provide "Supplier Tracking" services that help companies to continuously monitor their suppliers.
Scope's Spend Management services portfolio includes:
- Multiple Invoice tracking
- Duplicate Vendor Payment Tracking
- Strategic Sourcing
- Supplier Risk Analysis
- Supplier Tracking
- Reduce Inventory Level
- Contract Compliance
- Financial Regulation Compliance Analytics (Acts such as SOX, Basel II)
- Supplier Management Analytics
- Optimal Credit Period Analytics (Discounts vary based on credit periods)
Scope is an ISO 8000 certified Master Data Quality Manager organization with expertise in information and master data management. Our Spend Management services are based on our MDM platform that helps deliver better quality data for all analysis. Our Spend Management services are supported by an "Auto-classifier" that helps companies to automatically classify spend records to any standard industrial taxonomy or custom taxonomies.
Scope's MDM technology platform includes a very efficient ETL module that can extract data from a wide range of ERP systems including SAP, Oracle, J. D. Edwards, etc. Many companies also have a big proportion of spend as 'Free-Text' or 'Maverick' spending. We will also include spend data from all such sources.
At Scope, the spend data extracted from different sources is consolidated for further analysis. It is further cleansed and standardized for further processing. We cleanse and standardize both the company and product data using a combination of 'technology + subject matter expertise + knowledge repositories'.
Based on your requirement, we classify the spend data using our Auto-classifier to any of custom and standard industrial taxonomies such as UNSPSC, SIC, NAICS, etc. We also use subject matter experts to classify all ambiguous spend data that would otherwise be classified under 'Miscellaneous' or 'Others' by any auto-classification tool.
Our Spend Management services can be easily integrated into any of your existing BI/ ERP application and workflows.
With Scope's Spend Management services, companies achieve the following benefits:
- No upfront investment in sophisticated tools/ software to improve existing product data quality
- Proven procedures and information templates in accordance with ISO 22075 and ISO 8000 master data standards
- Faster turnaround time even for analyzing huge volumes of data
- Appropriate mix of technology and subject matter experts to extract accurate and comprehensive information from legacy data sources
- Minimal business impact while implementing Spend Management solutions and easier handling of change management
- Better manage supply chain and business risks through advanced data analytics and reports
- Strategic sourcing and Vendor negotiation data to realize huge cost savings. Higher ROI within a very short period of time
- Reduce Free Text or Maverick spend