InCight® Insider

A monthly brief featuring client outcomes with CIO InCight®

C Suite Collaboration Improves P&L

The intuitive, out of the box visibility that CIO InCight® provides for IT Vendor spend has been a tremendous collaboration platform for office of the C suite to identify and implement cost optimization strategies that have a positive impact on the P&L. This month we feature how a client leverages InCight as the centralized system of truth and feature two recent optimization plays.

Cloud TruSpend®

Our client highlighted this month uses CIO InCight’s automated vendor TruSpend to identify the full gamut of Cloud purchasing by: IT, the lines of business and what is transacted direct or indirect.

Unmasking Reseller Spend

Enterprise Technology purchasing via resellers is universal, as a result knowing the total spend with your OEMs, Software Publishers and Service Providers is not possible as in place financial systems are not designed to unmask the reseller spend. This results in loss of negotiating leverage and excess suppliers. This month we highlight how a client leverages the AI & ML based TruSpend® from CIO InCight® that reveals the all-in spend with their vendors, both direct and what is purchased via reseller.

Cost Center Clarity

This month, we feature the ability to process Cost Center hierarchies that seamlessly detail where spend occurs outside of central IT management. The Nexus Automation Engine™ uses advanced AI & ML technologies to ingest and normalize an organization’s spend data by assigning categories, detailing supplier and manufacturer parentage, incorporating custom metadata, aligning cost center hierarchies, and more. Data sources include: Accounts Payable, T&E, P Card, Invoices and Purchase Orders.

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.

M&A: Fast Track Vendor Optimization

According to McKinsey, an organization’s Vendor Spend represents on average 25 to 40 percent of a merger’s total cost-saving potential. The core to achieving this is building the right foundation; a combined spend baseline and taxonomy.

Don't miss another installment of customer challenges and insights gained by using CIO InCight.

Each one is a chapter in discovery, finding hidden details of the vendor spend data ingested. Our ML & AI-driven Intelligent Fusion Engine IFE® is used to clean and normalize down to the item level and will reveal actionable information.