spend science (rebranded)
TRANSCRIPT
Spend Science: Revitalise your spend data, unlock hidden value
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Who’s presenting?
Mark BlackwellSpend360, Head of New Business
Paddy LawtonSpend360, Founder
Jonathan BettsScience Warehouse, Co-founder & Market Development Director
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Before we start…
- GoToWebinar Viewer & GoToWebinarControl Panel
- All attendees are on mute
- Submit questions using the Question Box situated within the Control Panel
- For more information, please email: [email protected]
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Why Spend Analytics
The Solution
In Action
Q&A
Free Data Health Check
Agenda: The Spend Science Story
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Why Spend Science?
Powerful combination of two leading procurement data businesses
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Rapidly identify quick wins, inform strategic planning
Reasons to do Spend Analytics
Quick wins
Payment termsPurchase price
varianceMaverick spendMissed rebates
Fraud
Mid-term
Tail rationalisationContract
negotiationSpend avoidance
Sourcing oppsScope 3 reporting
Long range
Category management
Supply chain riskSRM
Payments strategyDemand planning
“Spend analytics is one of the truly core competences of procurement organisations”The Future of Procurement Demands Smarter Spend Analytics – Spend Matters, 2016
POLL:What’s your current setup?
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Spend Data Challenges
Data
Taxonomy
Security
Learning
Parent/child
Out of date
What’s in the
tail?
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Artificial Intelligence
• More than just a buzz word
• Learning vs rules• Encoder – decoder/LSTM• Have a child and are teaching it• Learns from every project we do
(knowledge base)• Accuracy• Speed• Dept for Business Innovation &
Skills grant
POLL:Where is your spend data?
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Customer Success Stories
Examples of value generated by our customers:• 10-20% reduction in supplier volumes
– A global food group reduced supplier volume by 19% in six months
• 40-50% savings by bringing spend under management– £8m saved from £20m maverick spend - global food group
• 15% reduction in invoice volume– Top 10 global bank reduced invoice volumes by 15%
• 15% reduction in tail spending– A global retailer reduced tail spend by 15% saving £11m in 12 months
• Identified 90% under-reporting against rebate target– A leading university secured unrecognised supplier rebates
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Our Approach
• Cleanse and consolidate– Unstructured data unified into a single
data set• Normalise and organise
– Standardises nomenclature, identifies relationships and maps to your taxonomy
• Enrich and enhance– Using extensive proprietary database
and external data sources (e.g. D&B)• Display and relay
– Visualise via free viewer with full access to your cleansed data set
We take your unorganised data and use Artificial Intelligence (AI) tools to create a clean, structured and enriched data set
POLL:How good is your spend data?
Live demo:Spend Science in action
Q&APlease submit your questions
Why Spend Science?Rapid, actionable results tailored to your taxonomy and industry
• Speed, accuracy and line level detail
• Delay means lost opportunities and savings
• Rapid ROI: expect budget impact within weeks
• A critical step to a robust strategic procurement plan
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Webinar Offer
• Free Data Health Check– Sample of data– Free evaluation– Scope full project
Thank you for listeningSurvey – what more do you want to know?
Suite B2, The Half Roundhouse,Roundhouse Business Park,Wellington Road,Leeds, LS12 1AH
www.sciencewarehouse.com
Thank youOliver Paice