Another month at Science Warehouse, another product launch and this time it is further investment in our Insights modules.
In March 2017 Science Warehouse launched the first of its Business Intelligence modules Supplier Insights, giving our Supplier Community improved visibility of their customers Marketplace Spend, on and off catalogue orders, top performing categories / products etc.
In recent months the Data Visualisation team have been working on providing our Buyers with the first phase of Buyer Insights, which was rolled out to all UK and Ireland customers this week. The new module gives Buyers a high level dashboard of spend data allowing authorised users to self serve and drill down to Supplier Spend, Product / Category Spend, Purchase Order Status and eInvoicing Performance.
In addition, this month Science Warehouse will also launch new Analytics capability around the price approvals process for both Buyers and Suppliers. The high-level impact analysis allows both sides to view the proposed price updates and the impact on the individual Buying organisation based on previous spend patterns. Line level analytics is also provided allowing Buyers and Suppliers to focus on the areas of high impact, improving visibility and speeding up the price approval process.
Read our blog The Price is Right?– the challenge for Procurement
What is next?
Our current developments are looking to leverage the rich data that the introduction of our Next Generation Search allowed us to capture and to provide Suppliers and Buyers with information that helps them understand more about how users are searching for products, key search terms, Supplier performance in search and drive actions to help both Buyers and Suppliers get the most from the system.
Our focus going forward is to provide users with “Actionable Analytics” giving Buyers the information they need to identify savings, improve compliance, drive user adoption or for our Suppliers, increase sales, customer satisfaction and market share.
Our aim is to provide Insights that help both Buyers and Suppliers build enhanced relationships through informed discussions, based on analysis of events, transactions and user behaviour.
Contact us if you want to speak to one of our team about how we can make a difference for your organisation.Download our Buyer Solutions Handbook