LONDON, June 18 /PRNewswire/ -- Trade Extensions, the e-sourcing and optimisation platform, has brought a new level of sophistication and simplicity to spend management by launching spend analysis and contract management functionality that is fully integrated with its e-sourcing and optimisation components. Spend analysis is available immediately and contract management will be launched later in the year.
Trade Extensions' spend analysis will automatically clean and aggregate historical spend data to provide businesses with a model of spend across their organisation. This information can then be used to identify areas where it may be possible to reduce procurement costs or improve efficiency.
Spend analysis is also seamlessly integrated with Trade Extensions e-sourcing and world leading bid optimisation services. Unlike other spend management solutions where data has to be exported and imported at each stage, Trade Extensions' spend analysis is inherently compatible with the sourcing and bid analysis application so users can switch instantly between the data sets and make comparisons. Seamless integration makes analyses faster and more convenient but also provides more clarity by allowing users to see how the bids they have received and the scenarios they are considering compare to historical spend data.
Trade Extensions, President, Garry Mansell said, The level of integration sets it apart from our competitors and with our offer collection and bid optimisation services it is easier to achieve strategic buying objectives by exploiting enterprise wide opportunities.
In addition to spend analysis, Trade Extensions will further complement its overall spend management service by launching integrated contract management.
Contract management will be available in Quarter 4 this year and allow users to access the essential terms of contracts, headline information and renewal dates from one convenient location.
Mansell said, Contract management will be fully integrated with spend analysis, offer collection and optimisation to enable seamless data analysis and report generation.
Trade Extensions (http://www.tradeextensions.com) sets new standards for on-line procurement and optimisation. Its unique procurement software helps organisations achieve their strategic buying objectives by specifying sourcing events, collecting offers and, most significantly, optimising the results. On-line procurement projects generate millions of variables and it is the algorithm design that underpins the success of Trade Extensions' software and means solutions can be identified in seconds.
Trade Extensions also provides integrated spend analysis to help organisations identify and exploit procurement opportunities.
More information: Niklas Pettifor PP firstname.lastname@example.org +44(0)20-7936-9269
More information: Niklas Pettifor, PP, email@example.com, +44(0)20-7936-9269