Benifit from the outcome of a three-year knowledge transfer partnership with cloudBuy, The University of Reading and Goldsmiths College, London
we’ll interrogate your data down to line-item level to identify exactly where your procurement pound is not achieving the best price.
Even used a one-off service, it is particularly useful in budgeting periods or as part of a saving review process, as it will give a clear starting point and set of actionable savings.
Working with partners that lead in thier fields.
'cloudBuy expect you to make significant savings, and guarantee that you will identify more savings than the cost of the pack.’
The purpose of the data collection is to establish the total spend for your organisation, and identify the items which were purchased. This is achieved by collecting data from both the Accounts Payable (AP) and the Purchase Order systems (PO), plus additional supporting information.
Our artificial intelligence engine does the hard work of understanding what you are buying and matching it all up.
Our 3 years of research have resulted in a significant improvement over the previous state of the art. Furthermore, the high quality purchasing data from Coding International means that our improved algorithms start with a better set of training data.
Price variance, where the the same product is bought from the same supplier but at different prices.
Price benchmark compares the average unit price achieved with other organisations that participate in the benchmark.
Contract opportunities, for example where framework contracts are available.
Having identified and quantified the areas where you have savings opportunities, in an easy and cost effective manner, the next stage is to implement a program to realise the savings.
If your organisation needs help or additional resources for the savings realisation phase we have a range of additional services and partners who can help you to maximise your cashable results.
SpendInsight offers a fast track to savings for organisations of all sizes. Engineered in partnership with two of the UK’s leading universities, SpendInsight represents a significant step forward in the ‘tool set’ of the procurement professional.
Upload your raw data and within 7 days we will return a completed data pack, ready for you to identify savings immediately. No consultants, no hidden cost, no distractions, just results – or we return your fees.
For public sector buyers, SpendInsight is available on National framework through OGC Buying Solutions. It is highly secure and can scale to deal with the data of very large organisations.
The data pack shows your areas for potential savings, and allows you to drill down by commodity or service right back to the original purchase order for checking. The data pack highlights:
To put things into perspective: hire a data analyst for a month or run SpendInsight – which will produce greater savings opportunities? The cost is very similar...