Self-service sourcing with spend analytics

Procurement analytics involves collecting, analyzing, and interpreting procurement data to study how goods are ordered, sourced, and supplied. This data comes from multiple integrated systems, including procurement platforms like SAP Ariba or Coupa, supply chain platforms and ERPs, accounting platforms, and supplier systems. Modern procurement analytics often uses AI and real-time dashboards to uncover insights that guide strategy and streamline operations.

Procurement analytics gives organizations the visibility they need to control spend, reduce risk, improve supplier performance, and ensure the delivery of high-quality goods.

Procurement leaders use analytics platforms to explore and act on data across sourcing, contracts, and payments workflows. They use their insights to eliminate unnecessary spend, find hidden bottlenecks and cost centers in the business, and decide which vendors to continue working with.

Because the procurement lifecycle is tied closely to external regulations and supply chain factors, procurement teams also use procurement analytics to quickly adapt to change. Modern analytics platforms can rapidly process high volumes of real time data to predict issues and delivery delays—keeping the organization well-stocked and ready for operations at any scale.

Modern procurement analytics software includes features like real-time dashboards, AI-powered insights, natural language search, and automated anomaly detection. It integrates seamlessly with systems like ERP, eProcurement, and supplier portals to provide a unified view of spend, supplier performance, and risk.

Unlike traditional solutions, today’s best procurement analytics software makes the most of agentic AI, or the use of AI agents to answer questions, find insights, and automate common workflows. Agentic AI is most powerful when the platform provides ready-to-use integrations and APIs that create a single source of standardized, AI-ready data for agents to reference.

Perhaps the most critical features to look for in a procurement analytics platform are self-service capabilities. Business users must be able to access insights without relying on analysts, both through natural language querying and visual UIs that allow them to drill endlessly into the charts and visualizations they care about. This lightens the burden on the data team while allowing stakeholders to get the answers they need in minutes.

ThoughtSpot combines the most powerful AI capabilities with the most intuitive ways to explore procurement and sourcing data. Data teams use the platform to unify data across many internal and external systems, building analytics solutions for their internal stakeholders they can explore without any analyst skills.

These stakeholders include business users throughout every stage of procurement, from requisition to final payment. ThoughtSpot gives procurement teams instant, AI-powered visibility into spend, supplier performance, and risk so they quickly identify cost-saving opportunities, resolve issues, and monitor key metrics like PO cycle times or contract compliance.

ThoughtSpot doesn’t stop at insights. Procurement teams can automate critical workflows and embedded analytics directly into their internal tools and supplier portals, reducing the risk of error and non-compliance while speeding up the procurement lifecycle.

Contact us and tell us what you need and we can help you find the right solution.