Spend Analysis Express enables customers to access Ketera's powerful spend analysis solution directly from the Web, providing small and midsized businesses (SMBs) with a self-service tool to analyse corporate spend without having to invest in costly and lengthy sales and implementation cycles typically associated with packaged procurement software.
Ketera believes there is a real gap in the market for such a product. Most small-to-midsized companies don't have the time or money to implement traditional procurement software, but often need to find ways of achieving operational savings.
"Spending analysis has been the bane of many supply management improvement initiatives," said Tim Minahan, SVP, Supply Research and Strategy, Aberdeen Group.
"Incomplete, inaccurate, and misclassified spend data has kept many companies from developing fact-based sourcing strategies, driving compliance, and identifying savings and improvement opportunities. Ketera's affordable spend data cleansing and classification service should be highly appealing to mid-market companies that are looking to launch new supply management initiatives or jump-start stalled sourcing or procurement programs and investments."
Ketera's new solution delivers an "express" version of the company's hosted Spend Analysis offering, which the company claims has helped customers of all sizes manage almost $120 billion worth of corporate spend.
Spend Analysis Express enables customers to rapidly upload data from accounts payable and purchase order systems directly into the Ketera processing engine. Data is then automatically categorised and customised based on company-specific variable data such as suppliers, records, systems, business units, locations and users within a company structure.
Because the solution is hosted, users don't have to purchase hardware, install software and burden IT with an implementation cycle as is typical with packaged software solutions. After data is analysed, Spend Analysis Express compiles a detailed spend analysis report helping companies identify where money is spent, negotiate better contracts with suppliers and reign in maverick spending.
"Our customers are saying that the way we're delivering our solution is how they want to buy software," said Steve Savignano, CEO of Ketera Technologies. "And this unique delivery model is resonating with both large and small customers.
"Specifically, the self-service model of our new Spend Analysis Express site offers companies an affordable way to gain visibility into their corporate spend, which is an ideal solution for mid-market companies that are looking to achieve a higher return on investment and opportunities to grow their business through streamlined procurement processes."
The software pricing begins at $2,500 (€1,859).