| MySpendNet™ |
|
MySpendNet™ allows senior management to make informed and accurate sourcing decisions by allowing them to interactively view operational financial data from a strategic procurement perspective on a real-time basis. In many organisations, lack of visibility into timely, detailed, and accurate spend data limits spend leverage, hinders compliance, and causes development of sourcing and supplier strategies in the dark. This is due to the onerous challenges in acquiring, classifying, and analyzing the data in the first place because ERP systems limit meaningful spend data, being designed primarily for Finance users with over-reliance on GL Account and Material Master entries. In addition, inconsistent purchase descriptions also makes analysis more difficult. In fact, 60% of enterprises end up using spreadsheets to analyse spend! MySpendNet™ utilises business rules to classify and analyse procurement spend data over and above what is available in established ERP (Enterprise Resource Planning) and legacy systems.. MySpendNet turns spend analysis into a repeatable and automated process to define sourcing strategies, increase spend leverage, and monitor compliance.
MySpendNet™ sits on top of legacy ERP systems and extracts data across multiple disparate sources (e.g. AP, GL, ERP, eProcurement, P-card, Bank feeds or outsourced service providers e.g. contract manufacturers, logistics providers).The extracted data is then warehoused, classified and analysed on a monthly basis to assist sourcing strategy. This approach allows Procurement Users to refine cost savings while Finance users continue in the manner in which they are accustomed, as back-end systems are not affected. By understanding spend behaviour, Procurement users can:
|
Their Words:
"MyBiz proves that Malaysian companies and technology can actually deliver."
Rafidah Aziz - former Minister of International Trade and Industry, Malaysia.
Read More...