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From data to decision: How big data and reporting make your procurement smarter

From data to decision How big data and reporting make your procurement smarter
Imagine this: you, as the person responsible for purchasing in your organisation, are sitting at the table with a supplier. He presents a great deal, but you have a trump card: hard data. You know exactly how much you spent last year, what terms you agreed upon, and how well (or poorly) they performed. Thanks to big data and smart reporting, you are in a stronger position. That feels good, doesn’t it?

Why big data and reporting are transforming your purchasing process

Big data – it may sound like a buzzword, but what does it actually mean? At its core, it refers to vast amounts of data that you can collect from various sources, such as transactions, supplier performance, inventory movements, and even external factors like market trends. The remarkable thing about big data is not just the volume, but especially what you can do with it: establishing connections, recognising trends, and making predictions that make your purchasing process more strategic.

From big data to action: smarter purchasing with procurement reports

Big data not only provides insight, but also helps you to take immediate action. By analysing patterns and trends, you can identify and address issues such as late deliveries early on. Additionally, you can uncover cost savings by gaining insight into inefficient spending or excess inventory. With big data, you gain control over your processes, from inventory management to contracts, allowing you to plan strategically and work more efficiently.

Matching purchase orders

Have you ever received an invoice that made you think: "Is this correct?" With smart purchasing software, you can automatically compare invoices with the original order. This saves you time and prevents errors.

Visualise your article consumption

Can you picture it? A dashboard where you can see exactly how much of the item "salted butter" you have ordered in the past months. This kind of reporting gives you control over your inventory and helps to prevent waste.

Warehouse management with insight

How much stock do you have left of your most used items? When should you reorder? And how do you avoid having too much or too little in stock? With a clear overview of your warehouse inventory, you can make smarter purchases, reduce waste, and always respond in time to prevent shortages. 

Proactive purchasing with big data and procurement analytics

Big data changes the rules of the game in procurement because it helps you look beyond the daily operations. Traditional procurement often revolves around solving problems: deliveries that are late, budgets that are exceeded, or inventory shortages that arise unexpectedly. Big data and reporting provide you with insights that allow you to recognise patterns and anticipate risks early. This enables you to take action before problems arise. 

Additionally, the reports give you access to insights that offer strategic value. Think about predicting demand spikes, comparing supplier performance, or analysing historical contract terms. This allows you to make better choices that advance your organisation. 

Qobee reporting dashboard

Ready for the next step?

Big data is not a thing of the future; it is here, and it can transform your purchasing strategy. Request a demo and discover how easy it is to improve purchasing decisions.

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