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This is why Procurement Analytics is vital within a modern procurement technology stack

abstract image of procurement intelligence

Poor data costs organizations an average of $12.9M annually.

Despite the push for ERP consolidation, these projects fail to address key procurement intelligence issues, such as providing a single source of classified data, resolving persistent data quality problems, and integrating third-party data. This oversight results in missed savings opportunities and continued inefficiencies.

The problem lies in the limitations of ERP systems, which do not support comprehensive data classification or enrichment. Consolidation alone does not improve data quality, leaving organizations with the same issues they started with, and missing out on crucial savings and strategic insights.

Procurement Intelligence provides quick time to value, delivers significant savings, enhances data quality, and provides a true single source of truth for better decision-making and strategic procurement outcomes.

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