PITTSBURGH, Feb. 7, 2012 /PRNewswire/ -- CombineNet, Inc., the leading provider of best-in-class online sourcing technology solutions for global supply chains, announced it has added an advanced spend analysis and spend management technology solution, powered by industry-recognized partner Spend Radar. The CombineNet Spend Analysis product is a natural extension to the CombineNet ASAP® e-sourcing product, bringing together the essential components of enterprise spend management and strategic sourcing with advanced capabilities.
"The analysis of prior spend decisions and their business impact is vital to strategic sourcing and conducting new online sourcing events, as well as to inform future spend allocation choices," stated Rich Wilson, Chief Executive Officer of CombineNet. "By integrating a robust, easily accessible spend analysis solution with our world-class e-sourcing product, we are giving customers two powerful best-of-breed technologies to help boost their business results."
Like CombineNet ASAP, CombineNet Spend Analysis is a Software-as-a-Service (SaaS)-based product, allowing for swift user implementation, a high degree of transparency, and instant access to the latest available features and enhancements.
Key features of CombineNet Spend Analysis, powered by Spend Radar, include:
- A rapid-ROI implementation process involving initial cleansing and classification of data that is completed within weeks, coupled with end-user training and rollout.
- Ease in sharing spend analytics data with sourcing data from the CombineNet ASAP e-sourcing product to improve spend and sourcing decisions, particularly when collaborating with business stakeholders and potential suppliers.
- A product architecture designed specifically for transparently managing spend data, getting companies close to 99% of their data being accurately classified. All types of currencies, languages, and data classifications/taxonomies are supported.
- Reports provided in a visual, interactive method that simplifies complex analysis and provides visibility to organization-wide data to make the right decisions with the right information.
- Flexibility for customers to determine and apply appropriately tailored business rules, standard and customized data taxonomies (e.g. UNSPSC® - United Nations Standard Products and Services Code), and algorithms for classifying spend data and conducting analysis.
- Faster ongoing classification and management of data refreshes that is supported through customer-tailored rules and algorithms for auto-classifications, and flexible support for multiple simultaneous classification taxonomies.
- Web-based solution that can be accessed anywhere, at any time, to get to the data you want and to improve management of spend.
"We partnered with Spend Radar to deliver this joint solution to customers, because they have become a demonstrated industry leader in advancing spend analysis well beyond simple snapshots of spend data," stated Dean Arnold, Vice President of Strategic Business Development at CombineNet. "In addition, our customers focus on key value themes when choosing technology-enabled solutions in spend management: speed and ease of implementation, as well as capabilities to continuously improve processes while driving sustainable business results."
"We are very excited to form this partnership with CombineNet," said Spend Radar Chief Executive Officer Brian Daniels. "Our spend analysis software combined with CombineNet's e-sourcing technology will provide a best-in-class solution for their clients based on two industry-leading technologies."
To read more about CombineNet Spend Analysis, please visit: http://www.combinenet.com/products/spend-analysis
CombineNet, Inc. delivers award-winning best-in-class e-sourcing software through its product CombineNet ASAP®. As a Software-as-a-Service (SaaS)-based sourcing solution, CombineNet ASAP allows customers to speed, simplify, optimize and centralize the sourcing of any and all spend categories from global suppliers: direct and indirect materials, all modes of transportation and services. Now in its twelfth year in business, CombineNet has a proven track record of driving significant bottom-line and productivity savings for its clientele which includes: Procter & Gamble, General Mills, Sears, Johnson & Johnson, A.P. Moller-Maersk, Bayer, Coca-Cola, Pepsico, U.S. Department of Agriculture, and many more. www.combinenet.com
About Spend Radar
Spend Radar is a leading software technology company focused solely on conquering the challenges of spend analysis and spend management. Spend Radar was founded to overcome many of the challenges that previous generation spend analysis and data classification solutions fail to address in a complete or optimal way. Our entire focus is to help any organization working with spend or supplier-related data to take action more quickly and effectively, significantly reducing the time spent to create actionable analysis. By enabling organizations to gather and structure complicated, distributed and diverse sets of information in a completely new manner, Spend Radar sets a new standard for data management. Spend Radar customers achieve greater savings faster. http://www.spendradar.com
SOURCE CombineNet, Inc.