CHICAGO, Oct. 18, 2011 /PRNewswire/ -- TradingPartners (www.tradingpartners.com), the leader in spend management technology and services, today announced it has released a new SpendScience™ software platform. The cloud-based SpendScience platform allows customers to create a configurable dashboard providing visibility into complex data streams within disparate enterprise systems via any internet capable device. The new platform is being rolled out to existing customers as part of TradingPartners' commitment to deliver innovative solutions to enhance the procurement experience.
TradingPartners' SpendScience technology provides enterprises full transparency of key intelligence from across their business all in one central location. Executives and procurement professionals can view reports and graphs of key performance indicators on elements such as category spend, supplier performance, negotiation results, active contracts, and savings by logging into their account through a web browser. Additionally, the software-as-a-service solution will allow for performance analysis by location, operating company, vendor/supplier relationships, categories, products and many other parameters.
The SpendScience platform is compatible with multiple categorization standards including UNSPSC and eCl@ss. Procurement professionals using the SpendScience platform will benefit from workflow that will allow them to assign tasks, schedule activity, monitor progress and track and report performance success.
"Our innovative SpendScience platform brings to light data from the dark recesses of the enterprise to identify opportunities to leverage spend, and manage vendor and category performance across many areas of their business," said Mark Barnekow, Chief Executive Officer of TradingPartners. "The ability to aggregate and view data from a single configurable dashboard will clearly help our clients achieve greater savings, vendor and product margin profitability, as well as improve the way they manage supplier relationships. The platform will especially prove invaluable to those companies that manage a de-centralized operating model or have operating units spanning the globe."
"Procurement and senior executives, especially in large organizations, will benefit from the invaluable visibility that TradingPartners' SpendScience platform provides, where users can track their spending in almost real time," said Roger Hilborne, UK Procurement Manager of Vitacress Company. "There is a huge advantage for businesses to interface their existing data sources with the platform. For instance, they can combine the basic spend data with supplier performance which enables them to make buying decisions based not simply on price but on the full range of vendor attributes."
TradingPartners' new SpendScience platform comes in response to intense market demand for a platform that delivers a scientific approach to enterprise spend and performance. The platform delivers visibility and transparency at a corporate and executive dashboard level. It is particularly relevant as the corporate focus has shifted to automating, extracting and aggregating data from disparate enterprise systems in order to better monitor performance and supply chain risk in today's challenging global business climate.
Based in Chicago, with European headquarters in London, and operations in Africa, Asia and Latin and South America, TradingPartners provides growing companies and global Fortune 500 firms with the most comprehensive and effective spend visibility technologies and managed services. With a global vertical focus in foodservice, healthcare, manufacturing, public sector, retail and services industries, TradingPartners assists its customers to reduce the cost of their direct and indirect purchases with tangible results often in the 10-25% range. TradingPartners' unparalleled domain expertise, comprehensive supplier database, and robust spend management technology platform have helped hundreds of corporations and public sector entities achieve dramatic business process improvements and tangible cost savings. For more information, visit www.tradingpartners.com.