All posts by DataKITE Admin

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How DataKITE and Power BI can help identify procurement cost savings

DataKITE 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.

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4 Top Tips for a Successful Supplier Renegotiation Process

We’ve participated in hundreds of negotiations with suppliers over the years, which has provided us with valuable insights into how to ensure a successful renegotiation process.

In this article, we share four top tips on how to secure sustainable, long-term results from your supplier renegotiations.

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How DataKITE and Power BI Can Help Your Procurement Department

DataKITE 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.

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Do You Trust your Data?

Building a Fortress of Data

How to Ensure Top-Notch Quality Information in Your Company

Data is the lifeblood of any successful organization in today’s digital age. But just like a building, even the most impressive structure crumbles if the foundation is weak. In this case, the foundation is data quality.

This blog post will serve as your blueprint for constructing a fortress of data – a system that ensures the information you rely on for decision-making is accurate, complete, and trustworthy.

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5 Reasons to bring your Spend Analytics online. Software as a Service (SaaS). An insight.

Access to a high quality spend analytics tool is a critical component of how the modern procurement function operates.

Data analysis has transformed how we assess buying behaviour, identify supply risks and opportunities, and develop our procurement and category strategies.

But over time, outsourcing spend analytics tools has become the industry norm, with third parties hosting company data and displaying it back to the customer via their dashboards.

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DataKITE & Microsoft Power BI and AI

How DataKITE Power BI Uses AI to Enhance Data Analysis

DataKITE and Microsoft Power BI is a powerful business intelligence (BI) platform that helps users analyze data and create interactive reports. In recent years, Microsoft has been adding AI capabilities to Power BI to make it even more powerful and user-friendly.

Here are some of the ways that DataKITE and Power BI uses AI:

  • AI Insights: This feature uses machine learning to help users identify patterns and trends in their data. For example, you can use AI Insights to identify the key drivers of sales or to find anomalies in your data.
  • AutoML: This feature automatically trains machine learning models on your data. This can save you a lot of time and effort, and it can help you create more accurate and predictive models.
  • Natural language processing: This feature allows you to interact with Power BI using natural language. For example, you can ask Power BI questions about your data, and it will generate reports and visualizations in response.
  • Generative AI: This feature allows Power BI to generate new data based on your existing data. This can be used to create synthetic data for testing purposes, or to generate new insights from your data.

These are just a few of the ways that Power BI uses AI to enhance data analysis. As AI technology continues to develop, we can expect to see even more powerful and innovative AI features in Power BI in the future.

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What is Spend Analysis?

Spend analysis involves identifying, gathering, cleansing, categorising, grouping, and analysing the spend data of your organisation. As a result, procurement costs are reduced and efficiencies are improved by increasing visibility and transparency. Real-time data and analytics provide the insight you need to save money and improve efficiency.

An analysis of spend is only part of the much larger field of spend management. With it, you can visualize all your data to make better sourcing and supplier decisions. Also, it can reduce cycle times and identify maverick spending as well as improve contract compliance.

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The Benefits of DataKITE Power BI SaaS vs Microsoft Power BI Licenses

Power BI is a powerful business intelligence (BI) tool that can help organizations of all sizes to make better decisions based on data. Power BI can be used to collect, analyze, and visualize data from a variety of sources, and it offers a wide range of features and functionality.

There are two main ways to deploy Power BI: as a software as a service (SaaS) solution or as a licensed solution. DataKITE Power BI SaaS solutions are hosted and managed by DataKITE using Microsoft embedded technologies on Azure, while licensed solutions are installed and managed by Microsoft licences, typically in-house.

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What are the benefits of a spend analytics tool?

Many companies spend money to ensure their customers receive the best quality product or service. The hidden costs are often overlooked. Spend analytics tools measure how much money companies spend on procuring products and services.

Some companies are already (or are planning to) invest in a spend analytics tool in order to manage their spend, but due to a lack of knowledge, many are realising the true value of spend analytics.

Here are some of the benefits to help you understand what spend analytics can bring to your organisation.

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4 Ways Procurement Analytics Identifies Savings Opportunities

Analysing your company’s spend structure is often the first step towards building a data-driven procurement organisation. The challenge for companies that have jumped on the analytics bandwagon is translating analytics into fact-based actions that enable procurement savings. In this article, we’ll discuss some promising cost-reduction strategies enabled by analytics that can help grow your procurement savings exponentially.

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