Before procurement had spend analysis solutions at our disposal, every question about historical purchasing activity led to unthinkable manual work or a big question mark. Now that we can centralize, cleanse, and normalize data for analysis - often with the assistance of tailor-made automation – many of us have stopped thinking about what life was like without it. But not all spend analysis is up to the task. In fact, having inferior spend analysis can be almost as bad as not having spend analysis at all. Poor spend analysis inflates expectations about the level of visibility we have, and may artificially inflate our confidence about how well we understand the spend we’re working to manage.
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