InCight® Insider
A monthly brief featuring client outcomes with CIO InCight®
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.
The Importance of Vendor Spend Categorization
MARCH 2021 Fellow InCighters, This month’s Insider highlights how a client leverages the automated Categorization of CIO InCight® to track the spend related to moving legacy IT infrastructure to the Cloud. CIO InCight details the amount of Vendor Spend for thirteen (13) industry standard Categories. For the IaaS Cloud migration the Storage, Compute & Data…
OEM Parentage + Reseller Purchasing = TruSpend™ with your Vendors
By gaining a view of spend that includes OEM Parentage and Reseller Purchasing, equals a Truspend™ view of your Vendors.
Identify Redundant Purchasing to Reduce Spend.
Software costs, especially SaaS, can grow at an extraordinary rate as companies invest in new technologies that can be easily implemented. Business Intelligence (BI) tools are a textbook example. Strategic sourcing opportunities are wasted by IT, Finance and Procurement organizations not having a centralized view of spend at the product level and by the Cost Center/ Department making the purchase.
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.