Spend Analysis

Spend Analysis

Redcap’ Spend Analysis solution takes organisations from unstructured data to categorised Spend Analysis. Our approach is different as we develop the Spend Database for your data and then provide it for you to complete future comparative analysis. 

 Spend Analysis is essential to enable an effective procurement focus to deliver cost reduction and key to the delivery of savings for the organisation.   Spend Categorisation can be completed to suit your business analysis and can be presented by one of the following or by your standard procurement classification method.

  • Cost Centres
  • Budget Codes
  • ProClass

Depending on which style of classification you utilise, Redcap’s Spend Analysis is developed from data supplied and is then built into a standalone database either for your business or group of businesses.

Following cleansing and verification, a range of reports can be produced to meet business needs.  This enables key strategic objectives to be planned including:

  • ABC Analysis of Spend
  • Category management
  • Savings identification
  • Transaction management
  • Supplier rationalisation
  • Efficiency improvement
  • Procurement Classification

 Spend Analysis is a key tool to enable the application of strategic procurement principles to the full range of goods and services consumed by organisations.

Procurement Classification

To assist organisations develop a greater understanding of their annual spend we can apply Procurement classification coding such as ProClass.

 This enables further reporting to be provided from the spend analysis and the production of spend by classification reports providing a clearer picture of where spend occurs.

 ProClass

ProClass was launched in 2006 and has now been adopted by eight of the nine Regional Centres of Excellence. ProClass is owned and developed by local government. From October 2007 the management and maintenance of ProClass has been passed to Coding International Ltd.  Redcap have worked with Coding International to develop additional ProClass elements for use by the Emergency Services organisations.

 For further information on how Redcap can assist you in the transformation of your procurement performance click here to contact us.