Procurement Analytics Software
What is Procurement Analytics Software?
Procurement analytics software collects and analyzes procurement data, offering business insights that can be used to support effective decision making and ultimately, improve business performance. Procurement analysis involves collecting data from various sources – both internal and external – and then classifying said data into standard and use-case specific taxonomies. After classification, data is then presented in a visualization dashboard either within the application itself or via an integrated business intelligence tool.
Common Features
- Spend Analysis
- Contract Management
- Analytics and Reporting
- Demand Forecasting
- Interoperability/APIs
- Budget Management
- Catalog Management
- Risk Management
- Machine Learning
- Price Benchmarking
- Compliance Management
- Automation
- Operational Metrics
Our Methodology
Composite Score
Vendors are ranked by the composite score, which is comprised of feature, capability, relationship, and overall satisfaction scores while factoring in the volume and recency of reviews.
CX Score
The CX score is comprised of the emotional footprint metrics, balanced by metrics related to the overall value of the software, while factoring in the volume and recency of reviews.
Data Quadrant
SoftwareReviews collects user insights that help organizations more effectively choose software that meets their needs, measure business value, and improve selection.
Rankings, results, and positioning on SoftwareReviews reports are based entirely on end-user feedback solicited from a proprietary online survey engine.
Leaders
Products that resonate strongest in the market, balancing features with a great user experience.
Product Innovators
Products that emphasize product features, gaining strong recommendations from their customers.
Service Stars
Products that emphasize a good user experience and build strong relationships with customers.
Challengers
Products that are strong performers in some areas and trail in others. Often up-and-coming vendors.
Emotional Footprint
SoftwareReviews collects user insights that help organizations more effectively choose software that meets their needs, measure business value, and improve selection.
Rankings, results, and positioning on SoftwareReviews reports are based entirely on end-user feedback solicited by a proprietary online survey engine.
Champions
Products that resonate highly with users at an emotional level. Users have specific emotional views towards these products like love, trust, and effectiveness.
Relationship Builders
Products that are bulletproof and focus on fulfilling core needs with steady support, not the latest feature.
Value Players
Products that succeed on cost and service effectiveness with users.
Contenders
Products seen as good in some areas and trailing in others. Users look to these for innovation at the edge but aren't fully committed.
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