Spend Intelligence and Performance Management to Support ESG and Strategic Goals

SpendHQ’s solutions help companies rapidly turn spend insights into new procurement initiatives that achieve contribution that is both financial (cost savings) and non-financial (carbon footprint reduction, increase in diverse spend).

By linking our Spend Intelligence and Procurement Performance Management in a single platform, procurement teams can continuously optimize their planning-to-execution cycle by identifying opportunities, immediately converting relevant opportunities into projects, and then monitoring financial and non-financial strategic outcomes.

SPEND INTELLIGENCE:

You utilize our proven AI-enabled process to consolidate and classify at least 97% of your enterprise spend into a central view. From there, you gain:

Supplier Diversity Insights & Benchmarks - Access, monitor and easily report on total spend with diverse suppliers – in aggregate, at the category or subcategory level, by region or through other filters. Automatically leverage third-party diversity data from sources including Supplier.io.

Supplier Diversity Data Enrichment - To know your baseline, you need to know which suppliers have diversity classifications. Existing supplier data can be automatically enriched to indicate those who carry designations of any 13 standard diverse supplier categories.

Emissions Spend Intelligence - Get a more accurate view of estimated Scope 3 emissions output across your supplier value chain to more easily target areas for reduction.

PROCUREMENT PERFORMANCE MANAGEMENT:

You achieve a centralized, transparent hub for all procurement initiatives for prioritizing, tracking, and measuring impact. Your team gains:

Supplier Diversity and Sustainability Project Visibility – Easily identify and track the progress and outcomes of all procurement projects with diversity, environmental or other non-financial performance goals to provide transparency to the business.

ESG Custom Unit of Measurement – Define other calculations of value beyond savings goals that include measurements for attributes such as CO2 emissions, water consumption, and waste output, to track projects and increase visibility in final reporting.

Supplier Risk Management – Improve supplier risk assessments for procurement projects utilizing insights from sources including Dun & Bradstreet, Credit Safe, Ecovadis, E-Attestations, and more thanks to pre-built application connectors.