Spend Dashboard
Users will have this feature activated if requested.
The spend dashboard gives users complete visibility of their annual spend data across different categories and suppliers. This makes it easy to manage costs, analyse purchasing trends and check operating budgets, KPIs and spending targets.
Please click here for a guide on understanding how the dashboard works.
Key benefits include:
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Enhanced Spend Visibility
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- Comprehensive Insights: It provides a clear view of total spending, spending with and without contracts, spending over time, by category, and the top 10 suppliers by spend.
- Real-Time Data: This enables stakeholders to access up-to-date information on spending trends, helping them quickly spot anomalies, identify opportunities, and make informed decisions.
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Cost Control and Reduction
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- Identify Overspending: By tracking historical spending patterns, the dashboard highlights areas where costs are higher than expected, enabling prompt action to negotiate better terms or identify inefficient processes.
- Vendor Rationalisation: It helps identify suppliers with overlapping services or excessive pricing, promoting vendor consolidation or renegotiation for better rates.
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Budget Management and Forecasting
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- Future Planning: The dashboard can provide forecasts based on historical data, assisting in setting realistic budgets and anticipating future spending needs.
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Data Point Bulk Update function
The Data Point Bulk Update function allows Admin Users to bulk update any supplier Data Points at any point of the supplier's journey. This specifically will be useful:
- For mass onboarding when starting to use Canopy
- For mass onboarding when the migration of businesses occur
- Changing categories
- Updating spend data annually/monthly.
Please click here for a guide on how to use the feature.