Spend Cube

A Spend Cube is a structured data methodology employed to provide insights into key procurement questions, addressing factors such as the nature of purchases (product group), cost allocation origins (cost center), and the identity of suppliers. This method involves the systematic construction of a three-dimensional cube, integrating data from various sources to facilitate comprehensive analysis.

The process of creating a Spend Cube encompasses crucial steps including data collection, consolidation, and conversion. Additionally, it involves supplier and expenditure classification to organize the information cohesively. The final stages involve thorough data evaluation and the generation of customized reports, enabling organizations to derive actionable insights for strategic decision-making in procurement. The Spend Cube methodology enhances transparency, aids in cost management, and contributes to the optimization of procurement strategies.

Learn more about Ivalua's Spend Analysis Solutions.