SOURCINGSHARK

What SOURCINGSHARK is

SOURCINGSHARK is a web-based procurement analytics platform that consolidates enterprise spending data into sourcing insights and potential savings opportunities. Its coverage includes direct and indirect materials, services, transportation and capital. The maker says it combines more than 75 master-data files with ERP data in one dataset, then uses 900+ algorithm analyses to cleanse, enrich and flag data issues. Users can build and share customized charts from more than 50 dashboard options, organized by department, commodity or contract. Spend analysis includes error correction, supplier and payment-term optimization, spend categorization and purchase-order-to-invoice visibility. Supplier scorecards track delivery, quality or PPM, and corrective actions. Commodity tracking offers price alerts and benchmarking refreshed daily and weekly; contract tools track negotiation terms, renewal dates and supplier compliance. Options include technology-only access and consulting with a dedicated account manager, sourcing guidance and quarterly business reviews. The maker also describes a one-time company-wide spend analytics assessment and a sample-data demo followed by a proof of concept using an organization's purchasing details. Prices are available on request.