Procurement executives need deep insight into what is being spent, with whom, and for what, so that they can leverage this information to rationalize supply base, improve compliance with contracts, reduce maverick spending, prioritize sourcing efforts, and reduce supplier risk. Why can’t they get what they need?

• Spend data is scattered across multiple systems, in a variety of formats and from varying sources.
• The data suffers from quality problems – often the same supplier name in different records is either spelled differently or has different codes.
• Without an industry classification code for each item (or when different codes are used to describe the same item across different systems) it is not possible to get an aggregate view into how much has been spent on same or similar items.
• Relationships between suppliers (such as wholly owned subsidiaries) are rarely identified within various systems, so it is difficult to get information on actual spend by supplier, including all subsidiaries.

Menigma utilizes sophisticated processes to accurately and quickly cleanse the data, normalize it, add classification information, and enrich it.

Menigma Infosystem solution can provide a client with the following
capabilities:

• Take data extracts from multiple data warehouse, purchase order, T&E, Pcard files, and AP systems
• Consolidate the datasets into one global database
• Cleanse, de-duplicate, and standardize the data
• Categorize the data to UNSPSC at the lowest level of detail possible (or your preferred taxonomy such as SIC, NAICS, homegrown, etc.)
• Enrich supplier information by adding content such as MWBE and parent-child relationships (optional and incremental fee)
• We provide our Spend Analysis service as an initial run to analyze data of a desired timeframe (for example, one fiscal year). Following the initial reporting, the data can be refreshed on a repeatable basis, such as quarterly or monthly, to incorporate new and ongoing spend into the analysis.