What is Spend Analysis in SAP (SRM-BW - SRM Analytics)?

SAP Term: Spend Analysis

• Component: SRM-BW

• Component Name: SRM Analytics

• Description: Reporting application that is made available by connecting SAP Business Information Warehouse SAP BW to mySAP Supplier Relationship Management mySAP SRM. Spend Analysis allows businesses to analyze the order values and invoice values of their procurement operations across systems and organizations. You are also able to evaluate non-harmonized master data by performing a master data matchup. The connection between systems can be build as a point-to-point solution or as a hub-based solution. In the first case, individual procurement systems are connected to SAP BW directly. In the second case they are connected indirectly using SAP Exchange Infrastructure SAP XI.

AnswerBot for ERP

• Key Concepts: 
  Spend Analysis is a component of SAP SRM-BW SRM Analytics that helps organizations analyze their spending patterns. It provides insights into where money is being spent, how it is being spent, and how it can be optimized. It also helps identify areas of potential savings and cost reduction. 
  
  How to use it: 
  Spend Analysis can be used to analyze spending patterns across different categories such as suppliers, products, services, and locations. It can also be used to compare spending patterns over time and identify trends. The data can then be used to make informed decisions about where to allocate resources and how to optimize spending. 
  
  Tips & Tricks: 
  When using Spend Analysis, it is important to ensure that the data is accurate and up-to-date. This will help ensure that the insights generated are reliable and actionable. Additionally, it is important to consider the context of the data when making decisions based on the analysis. 
  
  Related Information: 
  Spend Analysis is part of a larger suite of analytics tools offered by SAP SRM-BW SRM Analytics. Other tools include Supplier Performance Management, Contract Management, and Risk Management. These tools can be used in conjunction with Spend Analysis to gain a more comprehensive view of an organization’s spending patterns.