BirchStreet Systems, Inc., procure-to-pay solutions provider for the hospitality industry, announced today the launch of its Spend Intelligence Toolset. The Toolset gives instant insight into organizational spend, helping enterprise companies find opportunities to save.
Combining new analytical software with a new data mapping and analytics service, the solution provides spend intelligence on a global, national or regional scale with drilldown capability to the brand, property, department, item or category level -- across manufacturers and distributors. The Toolset includes a series of interactive drilldown dashboards, graphs and several new reporting options, allowing users to drill down to specific items and quickly zero in on significant patterns of off-contract spend.
The Toolset's spend intelligence capabilities give customers the ability to extract more savings out of their existing supplier contracts, perform vendor and item consolidations, or find opportunities for new supplier agreements. The Toolset also provides important data to assist with aggressive vendor negotiations, helping users to accurately calibrate volume commitments, as well as monitor property and vendor compliance.
While optimized to use spend data from BirchStreet's e-Procurement system, the Toolset can also analyze spend data from other sources, including supplier consumption reports and third-party systems.