DataKITE Power BI is a business intelligence (BI) tool that can help your procurement department to improve efficiency, reduce costs, and make better decisions. DataKITE Power BI can be used to collect, analyze, and visualise data from a variety of sources, including i2B or any other procurement systems, e-catalogs, and supplier websites. This data can then be used to create reports and dashboards that provide insights into procurement performance.
DataKITE Power BI can help your procurement department in a number of ways
- Improved visibility and transparency – DataKITE Power BI can provide procurement with greater visibility into the procurement process. This allows procurement to better manage costs and ensure that procurement activities are aligned with business goals.
- Reduced errors – DataKITE Power BI can help to reduce errors by automating the procurement process. This helps to ensure that all required information is included in procurement documents and that procurement processes are followed correctly.
- Improved compliance – DataKITE Power BI can help organizations to improve their compliance with procurement policies and procedures. This is because DataKITE Power BI provides a more auditable trail of procurement activities.
- Increased efficiency – DataKITE Power BI can help procurement to be more efficient by automating tasks such as data entry and report generation. This frees up procurement staff to focus on more strategic activities.
- Better decision-making – DataKITE Power BI can help procurement to make better decisions by providing insights into procurement performance. This information can be used to identify areas where procurement can be improved and to make more informed decisions about procurement strategies.
Identifying cost savings opportunities
DataKITE Power BI can be used to analyze procurement data to identify areas where costs can be saved. For example, DataKITE Power BI can be used to compare prices from different suppliers or to identify opportunities to negotiate better deals with suppliers.
Managing supplier relationships
DataKITE Power BI can be used to track supplier performance and identify areas where relationships can be improved. For example, DataKITE Power BI can be used to track supplier delivery times, quality, and prices.
Optimizing inventory levels
DataKITE Power BI can be used to track inventory levels and identify opportunities to optimize inventory levels. For example, DataKITE Power BI can be used to identify slow-moving items or to forecast demand for items.
By using DataKITE Power BI, procurement departments can improve efficiency, reduce costs, and make better decisions. This can lead to improved profitability and increased competitiveness.
Try the DataKITE spend analytics tool for free.