News | July 16, 2018

ProcurePort Announces The Release Of Spend Trend, An Enhancement To Its Spend Analysis Software Allowing Companies To Track Increase/Decrease In Spend Across Categories

ProcurePort, leader in the enterprise SAAS software category for Online Procurement provides a combination of Cloud hosted sourcing software such as RFP Software, RFQ Software, Online Auction Software, Contract Management Software, Procure-to-Pay Software and Spend Analysis Software. An enhancement to the Spend Analysis Software with Spend Trend allows ProcurePort Clients to track increase and decrease in spend across suppliers, spend categories over monthly, quarterly, annual periods.

Spend Analysis is a critical part of Procurement. Without visibility into procurement spend, it is impossible to make strategic sourcing decisions that help with managing Procurement Spend.

After any Spend Analysis process, it is equally important to track ongoing spend to ensure that current sourcing practices are performing optimally. ProcurePort's Spend Trend module allows companies to track the increase or decrease in spend across different suppliers, spend categories and time periods. A single dashboard allows procurement managers to monitor their spend to assess whether their current sourcing practices are delivering the expected results.

Founded in 2011, the company has expanded its service set from discrete online auction tools to complete on-demand sourcing solutions including providing sourcing, spend analysis services and Procure-to-Pay Software. ProcurePort also provides an online marketplace solution that can be customized to launch e-marketplaces in vertical specific B to B and B to C markets. Since the company’s formation, its operations have expanded from a single staff member to 84 technology and procurement professionals.

SOURCE: ProcurePort