Challenged by managing your tail spend? Our enterprise spending platform helps get you back in control.
What is enterprise spend management?
Enterprise spend management is the business practice of managing all supplier and company purchasing to identify and optimize every dollar spent in your ‘tail spend’–which is typically defined as the money that an organization spends on purchases that make up approximately 80% of transactions but only 20% of total spend volume.
Legacy enterprise spend management systems are spread over multiple teams, with data living in different silos, so there’s often no single source of truth. By the time you’ve gathered everything you need, the financial picture you get is already outdated
Our enterprise spending platform is a simple but highly effective one. Tradeshift Go is enterprise spend management software built to give you a complete and instant overview of your company’s spend. This allows you to continuously view and review outgoings, consolidate expenses, and avoid unnecessary spending.
An enterprise spending platform gives you complete control
We solve the problems with traditional, outdated enterprise spend management:
Tail spend analysis is too complex
It’s too complicated to consolidate diverse information spread out over multiple departments, and slows everyone down.
High potential for overspending
With little or no clarity over who’s paying for what and how much it’s costing, you’re probably spending more than you need to.
Data is structured differently
When spend is managed differently across departments, integrating all that information into reports gets complicated.
Never in real-time
Old outdated forms of tail spend analysis only give you a small window of previous spend with limited insights.
Why a modern, cloud-based, enterprise spending platform is better:
Detailed data keeps it simple
With all your spending activities consolidated on one cloud-based platform, you get detailed, real-time reports on spend, which helps you save.
Easily identify duplicates and consolidate
Get instant clarity into your buying and avoid extra spend and duplicate orders.
Advanced enterprise spend analytics
With spend analysis software, you’ll understand what you’re spending money on, and with which vendors, down to the cent. Better insight equals understanding, which equals smarter decisions and cost savings.
Real-time view of contract compliance
With a comprehensive view of spend, it’s easier to see whether contracts are being complied with.
Tradeshift’s enterprise spending platform
Tradeshift enterprise spending platform “Go” provides you with a single, smart and versatile solution, where you can easily record and analyze all your organization’s spend. Welcome to the new world of controlled expenses:
Differentiate between types of spend
Tradeshift gives you powerful tools that help you dig down into the data and compare different kinds of spend, whether it’s spend that is under management or long tail spend.
Get fast, automated analysis
Tradeshift uses advanced machine learning software to analyze your spend, helping you find ways of cutting costs that you may not even have thought of.
Track and monitor KPIs
Tradeshift helps you constantly monitor your current spend and assess this against your KPIs—automatically highlighting, and helping you catch, any potential overspend.
Create compelling reports
With a business intelligence dashboard full of smart tools, you can quickly create bespoke graphs and pie charts to better understand your current spend better.