Sunday, May 7, 2017

Procurement Data Analytics Dashboard

Analytics is the process of using quantitative methods to derive actionable insight and outcomes from data. It involves the capture and use of the data to support fact-based decision making and gaining competitive advantage. It typically involves reporting on what has happened in the past but using tools like predictive analytics based on historical data, you can also estimate what will happen in the future.

To catch a glimpse on what does Procurement Data Analytics looks like, you can take a look at this Procurement Dashboard sample. This application illustrates how an organization can analyze their spending and contracts. Users can analyze procurement through the use of purchase orders, contract coverage, payment patterns, etc. to determine which parts of the organization make their payments on time and have outstanding balances, monitor the status of contracts and important contract dates.

The data used in this dashboard can be sourced from a standard Procurement or Accounts Payable module in your accounting or ERP system.

Procurement Data Analytics Dashboard
Procurement Data Analytics Dashboard







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