In an era where every penny counts and efficiency is non-negotiable, procurement leaders are under increasing pressure to make smarter, faster, and more strategic decisions. One of the most effective ways to meet these demands is by leveraging powerful spend analytics tools, and few solutions are as robust and user-friendly as Unit4 Spend Analytics by Scanmarket.
Why Spend Analytics Matters
Before diving into how Scanmarket can help, it’s worth understanding why spend analytics should be at the heart of your procurement strategy.
Spend analytics enables organizations to:
Gain visibility into supplier spending
Identify savings opportunities
Reduce maverick spend
Improve compliance
Enable data-driven negotiations
In short, it turns procurement from a tactical function into a strategic powerhouse.
What Is Unit4 Spend Analytics by Scanmarket?
Scanmarket’s Spend Analytics is a cloud-based solution that consolidates, cleanses, categorizes, and visualizes spend data from across your organization. Its intuitive dashboards and customizable reporting empower procurement teams to move from raw data to actionable insights—fast.
Key Features:
Automated data cleansing and enrichment
Custom category trees and taxonomy
Dynamic dashboards with drill-down capabilities
Global data consolidation
Seamless integration with ERP systems
How to Optimize Your Procurement Strategy
1. Get a Clear Picture of Total Spend
The first step in any optimization effort is understanding where your money is going. Unit4 Spending Analytics by Scanmarket centralizes data from multiple sources (ERP, P2P, AP systems) and normalizes it, so you get a single, accurate view of your spend across categories, business units, and regions.
Benefit: Spot high-spend areas, detect anomalies, and identify trends.
2. Segment and Prioritize Spend Categories
With custom taxonomy, you can categorize spend data in a way that aligns with your organizational goals. Segmenting your spend helps you focus your procurement efforts where they’ll have the most impact.
Benefit: Target strategic sourcing initiatives and supplier consolidation more effectively.
3. Uncover Savings Opportunities
By analyzing spend patterns, price variances, and supplier performance, you can quickly identify where savings are hiding—such as opportunities for volume discounts, contract renegotiations, or switching to preferred suppliers.
Benefit: Reduce costs without compromising on quality or service.
4. Improve Supplier Management
Scanmarket helps you analyze supplier performance, concentration, and dependency. This insight supports better supplier selection and risk management, especially during contract renewals or sourcing events.
Benefit: Build stronger supplier relationships and mitigate supply chain risks.
5. Drive Compliance and Reduce Maverick Spend
By comparing spend data against existing contracts and preferred supplier lists, Unit4 Spend Analytics by Scanmarket can highlight off-contract or non-compliant purchases.
Benefit: Reinforce procurement policies and maximize the value of negotiated agreements.
6. Enable Agile, Data-Driven Decisions
With Scanmarket’s real-time dashboards and reporting, procurement leaders can act quickly and confidently—even in rapidly changing market conditions.
Benefit: Stay ahead of market shifts, inflationary pressures, and supply chain disruptions.
Real Results, Real Impact
Organizations using Scanmarket’s Spend Analytics have reported:
Up to 15% cost savings through better sourcing
30% reduction in maverick spend
Significantly improved compliance with procurement policies
Enhanced visibility for C-level reporting and audits
Final Thoughts
Optimizing your procurement strategy isn’t just about cutting costs—it’s about creating sustainable value. Unit4 Spend Analytics provides the visibility, intelligence, and agility your procurement team needs to lead with confidence.
If you’re ready to unlock the full potential of your spend data, Unit4 Spend Analytics is the smart place to start.
Explore more
Come explore our extensive range of top-notch Cloud ERP products (Unit4 ERP, Unit4 ERPx) and comprehensive services (Unit4 ERP implementation, Unit4 ERP Training, and Unit4 ERP Support), cutting-edge business intelligence solutions Unit4 FP&A, and indispensable data management tools (GCON4 MFL, GCON4 iConnect, and GCON4 Exchange Rates Loader) that perfectly complement the already remarkable Unit4 ERP and Unit4 ERPx. You won’t be disappointed!
Discover more about GCON4 and read the exceptional reviews from our satisfied clients.
The first step in any optimization effort is understanding where your money is going. Unit4 Spending Analytics by Scanmarket centralizes data from multiple sources (ERP, P2P, AP systems) and normalizes it, so you get a single, accurate view of your spend across categories, business units, and regions.
Benefit: Spot high-spend areas, detect anomalies, and identify trends.
