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8MSaaS can aggregate and classify organization’s spend data for its purpose of reducing costs, improving operational performance and ensuring compliance. For the organizations that are using multiple disparate systems for item purchases and expense reports, they can migration their data to 8MSaaS and won’t need to worry about data cleansing and migration subsequently and dashboard and report generation repeatedly.
8MSaaS allows user-defined expense categories and subcategories, product types and families and supplier types and grades.
After the above spend classification framework is setup, 8MSaaS will automatically classify spend data as they are being entered and no data collection and cleansing are necessary since 8MSaaS One Design One System architecture reinforces strong data classification and linkage for sales and operations.
8MSaaS can automatically aggregate spend data according to Organization, Spend Type & Product and/or Supplier.
8MSaaS can help the user generate answers to the following questions affecting their spending, including:
The spend visibility provided by 8MSaaS Spend Intelligence helps the user gain insights into what their organization buys and from whom, and it helps them realize savings promised by past sourcing efforts.
In 8MSaaS, Spend Intelligence is embedded in the procurement process. For example, when the user is reviewing the real-time quotes submitted by the suppliers, she can click the “Price Trend” icon to view the price trend information.
The user can also click the “Best Price” icon to view the best price offered from each supplier.
8MSaaS provides the user with insights into which department is purchasing what and at what prices.
8MSaaS allows the user to find out the purchases are from whom and at what prices.