Spend Intelligence
Data cleansing and analytics in an easy-to-use dashboard for effective management of enterprise supply chain spending
Manage external spending with precision
Understanding supply chain spending is key in managing costs and improving performance, and that requires enterprise spend data to be complete, accurate, granular, and dynamic. Spend Intelligence® provides cleansed and categorised historical data with detailed taxonomies to facilitate this.
Features and workflows
Spend Intelligence allows you to gain visibility into, and analyse, supply chain spending with the click of a button.
Key features of Wood Mackenzie's Spend Intelligence:
- Access $8T+ database of energy & natural resources third party spend.
- Get recurring cleanse refreshes for continuous and up-to-date visibility into spending.
- Cleansed and enriched historical data delivered via a proprietary dashboard and classified according to industry best practices, enabling quick decision-making.
- Out-of-the-box analytics panels, as well as in-built functionality to create and customise additional panels.
- Up-to-date view on supplier parent-subsidiary relationships reflecting supplier M&A activity.
Wood Mackenzie's Spend Intelligence provides data on:
- Segment and report spending by business unit, geography, category and supplier.
- Understand the full volume of spending with parent company suppliers and their affiliates to identify increased spend leverage for volume discounting.
- Pinpoint opportunities to reduce pricing variance and consolidate fragmented sets of suppliers per category
- Improve purchasing efficiency by quantifying PO, invoice, and contract count per dollars spent.
- Bring together disparate internal data sources and cleanse them all to the same industry-standard taxonomy.
- Overlay additional analytical views spanning supplier diverse ownership, scope 3 carbon emissions, supplier risk, and commodity inflation and deflation trends.
Wood Mackenzie's Spend Intelligence enables a number of key workflows including:
Supply chain management:
- Gain a better understanding of historical spend to identify cost reduction opportunities.
- Cleanse historical transactional data to obtain visibility into enterprise recurring spend.
- Inform cost reduction opportunity identification and category strategy development.
- View baseline spend data for additional analytics.
Project management:
- Understand historical costs to inform cost management for new projects.
- Inform project cost estimation and analyse budgeted versus actual cost performance across historical projects.
- Leverage internal data to optimise costs during procurement/execution.
Financial forecasting:
- Gain high quality internal cost data to inform accounting and forecasting.
- Leverage cleansed enterprise spend data to improve the accuracy, granularity and completeness of financial analysis and control.
Why choose WoodMac's Spend Intelligence?
The modules within the Wood Mackenzie Supply Chain Intelligence Platform offer data and insights to support cost reduction, risk management and performance improvement. Spend Intelligence provides you with a full understanding of supply chain spending and allows for identification of value leakage and performance improvement insights. The data can be viewed through out-of-the-box or customised analytics panels and the solution offers the facility to thoroughly and granularly analyse which categories, projects, and what suppliers money is being spent on.
Frequently asked questions
Here you’ll find answers to the most common questions you may have on Wood Mackenzie’s Spend Intelligence. If you have any other questions, get in touch.
Spend Intelligence works well coupled with our Renewable Asset Cost Modelling (RACM) product. RACM provides the ultimate $/W, $/MW, or $/MWH benchmark price being paid in the market today. Together, customers get a granular assessment of various market constraints that are impacting price movements in order to forecast the best pricing for their project.
Executing on savings opportunities relies on enterprise spend data assets that are complete, accurate, granular, and dynamic. In a highly complex and nuanced industry, Spend Intelligence offers a solution with an energy and natural resources-specific focus and data-at-scale to enrich and classify insights.
- Diversity Data - to quantify spending with diverse-owned businesses and more effectively report and manage supplier diversity programs.
- Carbon Data - to quantify Scope 3 carbon emissions by category and at the enterprise level.
- Risk Data – to understand supplier geolocation footprints and assess supplier risk across key domains, including Financial Health, Extreme Weather, ESG, and commodity exposure.
- Commodity Cost Trend Data – to quantify the dollar impact of market volatility upon enterprise spending.
Contact an expert
Whether you are looking for ways to reduce price variance in your organisation, develop a more cohesive supplier strategy or cleanse spend data, our experts are on hand to advise on how the proprietary, in-depth data within the Supply Chain Intelligence Platform and Spend Intelligence can bring you insight to validate your spend strategy.
