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Procurement analytics

Procurement analytics

Make better decisions in your Source-to-Pay (S2P) cycle

What we do

Polestar's Procurement Insights helps customers

  • Extract & enrich the data from ERPs, procurement systems such as Ariba, Coupa, GEP smart, and other internal or third party systems.
  • Establish linkages across data extracted from different systems and develop a data warehouse.
  • Create meaningful visuals in customer's technology of choice such as Power BI, Tableau, Qlik Sense, etc.
  • Offering insights-as-a-service to interpret the data and develop actionable insights.
 Key challenges

Key challenges in implementation of Procurement analytics

  • Quality of Data captured at source.
  • Multiple technology platforms being used across Source-to-pay processes.
  • Poor or no integration across different Procurement systems.
  • Lack of Transparency
  • Accounts payable are prone to errors due to inaccurate information
  • Compliance Risk-like policy adherence

Our Procurement Analytics practice caters to the entire gamut of S2P cycle

  • Governance & Control

  • Category Management

  • Contract Management

  • Supplier Management

  • Purchasing & Order Management

  • Invoice Management

Governance & Control related analytics help executives track and improve performance of entire Procurement function. It helps procurement leaders understand key efficiency and effectiveness metrics across teams to equip them with the right resources and tools, minimize risk exposure, and grow the business landscape.

Some examples of Governance and Control Analytics include:

  1. Spend Profile of the entire spend of the organization
  2. Spend under management
  3. Spend managed per procurement FTE
  4. STC and PTP team effectiveness
  5. Single or Sole sourced spend
  6. Scope 3 emissions tracking
  7. …and many more

Category Management Analytics focuses on the strategic management of spend. It aims to provide category managers with necessary insights to select the best sourcing methodology for management of the spend in their portfolio.

Some examples of Category Management Analytics include:

  1. Savings delivery and Cost avoidance tracking by sourcing channel
  2. Tail Spend management effectiveness
  3. Incumbent awarding patterns and trend
  4. Supplier engagement in sourcing events
  5. Sourcing channel effectiveness
  6. Promoting Supplier Diversity in sourcing stages
  7. …and many more

Contract Management Analytics explores the operational and strategic aspects of Contract Management process. With such analytics, organizations can understand key pain areas in the contracting process, contract policy adoption, and contract administration and make the contracting experience less daunting and complex for end users.

Some examples of Contract Management Analytics include:

  1. Contract cycle time
  2. Contracts technology adoption
  3. Contract utilization
  4. Financial commitments
  5. Contracts compliance
  6. Proactive contract expiry management
  7. …and many more

The understanding of supplier landscape may come across as an easy exercise by looking into Vendor master data and running basic analytics on it. However, the true picture of supplier engagement, performance, and risks come to light when we aggregate data across multiple data sources and build robust analytics around all supplier touchpoints with your organization.

Some examples of Supplier Management Analytics include:

  1. Supplier deduplication analytics
  2. Supplier enablement tracking
  3. Supplier fragmentation and rationalization analytics
  4. Supplier Hierarchy
  5. Supplier onboarding cycle time
  6. …and many more

Purchasing and Order Management process is how most end users in a business interact with the procurement function. Most users in an organization do not consider strategic aspects of category, contract, and supplier management. Purchasing and Order Management analytics helps Procurement leaders to better understand the existing process and suggest tech-powered ways to optimize the process.

Some examples of Purchasing and Order Management Analytics include:

  1. Requisition to Order cycle time
  2. PO without contracts
  3. Item compliance
  4. Vendor compliance
  5. Order acknowledgement analytics
  6. After the fact PO analytics
  7. …and many more

Invoicing Process is ultimately responsible for getting suppliers paid and hence is a very important process for the suppliers. Keeping Invoice Management process efficient will keep suppliers happy and will help maintain Organization as a customer of choice for suppliers.

Some examples of Invoice Management Analytics include:

  1. Unpaid invoice
  2. 3-way matching exceptions
  3. Non-PO Invoices
  4. Late Payments
  5. eInvoicing adoption
  6. Payment term optimization
  7. …and many more

Our Methodology

Our main area of expertise is in identification and development of purpose-built-metrics that can ultimately translate into meaningful actions

We do not follow a one-size-fits-all approach to boost procurement performance but instead, we bring in a collaborative, agile approach to perform sophisticated quantitative operations and derive actionable insights & value.

Key Advantages
Improved Bottom Line
Improved Bottom Line

Provide an easy and efficient process for businesses to request goods and services

Enhanced Service Delivery
Enhanced Service Delivery

Engage with a high-performing reliable supply base that can be managed effectively

Improved Supplier Relationship
Improved Supplier Relationship

Ensure that major decisions deliver the best performance and value to the business

Visibility Towards Growth Drivers
Visibility Towards Growth Drivers

Set Up & Monitor growth drivers that align with procurement strategies to accelerate efficiency

Procurement Analytics for Procurement Leaders

Leverage the power of your procurement data to make better business decisions.

Integrate different Procurement systems to deliver advanced analytics across Source-to-pay processes such as :

  • Buying channel analytics
  • Supplier landscape and performance analytics
  • Commercial analytics
  • Compliance and sustainability analytics
  • Risk analytics
  • …and many more

Why Choose Us?

  • 10+ years of experience helping organizations navigate data quality and integration complexities
  • A global firm infused with startup's agility and flexibility, ready to walk the extra mile
  • Proven methodologies time-tested with over 250 enterprise implementations
  • Successfully steering multiple change management & adoption programs

Make better decisions with Procurement Analytics

Sid Poddar
Sid Poddar

Practice Head -
Procurement Insights

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