How can FACTis BI solutions enable you to change the game?
FACTis BI solutions Maximize savings with FACTis- Spend Analytics.
Shift your focus from revenue growth to procurement savings – Our solutions cover spend analysis and can help you deliver repeatable cost savings while improving quality and compliance.
Top C-level priorities:
- Gaining spend analytics capabilities.
- Increasing the percentage of spend under management.
- Ensuring that all locations are buying materials from preapproved sources at preapproved prices.
- Making sure that suppliers are performing (pricing, on time, and quality, for example).
What are the typical challanges?
Challenges facing procurement organizations include training and employee development, managing sourcing offices and ensuring collaboration across corporate departments.
- Inability to do spend performance analysis.
- Lack of data standardization across the company means that it is difficult to find items or materials in the systems, leading to multiple purchases, obsolete inventory, and spending outside of the systems.
- Maverick spend due to failure to manage spend strategically, resulting in excess cost and potential quality issues.
Why FACTis BI?
A common area of focus is spend analysis and management because it provides many cost reduction opportunities including decreased material, services, and inventory costs, as well as decreased sourcing cycle times. BI can provide the visibility and insight needed to improve procurement performance.
Typical Benefits Achieved.
- Increase the amount of spend under management, leading to a reduction in direct and indirect materials spend
- Create supplier scorecards with real-time information to:
- Identify the most valuable suppliers and continue doing business with them.
- Eliminate badly performing suppliers.
- Arm yourself with needed information to conduct supplier negotiations.
- Generate automated alerts to let your sourcing department know if they are close to triggering a rebate
- Ensure adherence to negotiated spend contracts with global or regional suppliers.
- Eliminate maverick spend and ensure the quality of your direct materials.
- Ensure that maintenance, repair, and overhaul (MRO) parts are the requisite quality; companies can save anywhere from 5% to 20% by managing spend.
- Know in the moment, act immediately, and deliver results with Mobile BI.
- Access the business intelligence you need to make critical decisions ? anytime, anywhere, and on any device.
- Make more informed decisions with immediate access to online and offline information.
- Provide sales and field reps with the data they need to answer customer questions on the spot.
- Keep business processes running smoothly by monitoring KPIs from the road.
- Lower total cost of ownership through reuse of deployed BI reports and platform functionality.
- Annotations and Voice Message Feature helps you to convey your business decisions to your staff by mail immediately.