May 27, 2021
Balance Of Trade
A key CIO InCight® use case is for a company to provide essential multi-year spend information for their IT suppliers back to the Lines of Business (LOBs) that identifies the delta to the suppliers reciprocal spend for their companies’ products and services. The IT, Finance, and Procurement teams call this Balance of Trade.
This client uses InCight to seamlessly display their company’s business relationship with their IT suppliers. Out-of-the-box and with no FTEs needed, InCight shows their IT organization’s total spend on products purchased through multiple channels from complex companies like Dell Technologies, Cisco, Oracle, HPE, AWS, Microsoft, etc. InCight clearly details a) if the supplier is a client of their services (Green = Yes, Red = No) and b) if Yes what is the annual spend.
The Chief Information Officer (CIO) and Chief Procurement Officer (CPO) now provide ongoing Balance of Trade status for their suppliers that are used as a lead generator for the LOBs by proactively sharing the InCight views with key stakeholders, especially the Chief Revenue Officer (CRO). Note: The view shown is their FY 2019 spend that was delivered to the CRO in January 2020.
From the CPO:
“CIO InCight has made Balance of Trade a reality. It truly was the missing link for our ability to partner with the LOBs to help generate revenue, which we can attribute to over $9M in 2020.
TruSpend’s automated analysis and intuitive SaaS delivery is now standard intel leveraged by our sales leadership.”
In this clip, NASDAQ discusses how “Dynamic Visualization” facilitates sharing meaningful metadata with other departments enabled by CIO InCight.
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Global Head Customer Success
Transforming Data to InCight®