WORKFLOW SOLUTIONS Spend Management

Establish full spend visibility with budget and project cost tracking. Identify new ways to save with custom spend reports and analytics.

Spend control solutions provide access to structured workflows and a clear overview of procurement analytics to help you identify the best ways to secure cost savings. Tradogram offers a comprehensive spend management software solution, which includes an approval workflow system to structure company spending, a budget planner tool to carry out cost forecasting, as well as the ability to generate custom spend analysis reports.

Configure your own procurement portal with a variety of other procurement tools to enhance spend control based on your company’s procurement requirements, and disable any modules you don’t need. Additional features include a versatile range of e-sourcing tools, and a simplified order receiving process provided by a convenient delivery management system that can also track inventory distribution.

See the the steps below to learn more.

1. Approve

Configure a dynamic approval workflow system to improve spend management.

  • Improve spend management and control procurement by configuring automated approval routes based on dynamic triggers – such as cost thresholds, procurement projects, certain categories, and/or departments that you define. The item master database and vendor list can both be categorized to add extra detail to your approval routes.
  • Multiple purchasing managers can be assigned to provide procurement approvals before an order is processed. Develop an approval hierarchy, including the optional use of a purchase requisition system to add additional structure to your procurement management plan.
  • The approval workflow system can be configured for more than just procurement activities. Add approvals to any aspect of the system, including requisition forms, PO matching for invoice automation, spend analysis tools and reports, as well as any newly added vendors to ensure a list of approved suppliers is maintained.

2. Budget

Maintain budget management and cost forecasting with budget planner tools.

  • Create an effective budget management strategy for each of your branches, departments, and users within the company with an intuitive budget planner tool. Simplify spend management by tracking the details of any transaction made within the company.
  • Streamline project cost management by creating detailed budgets for specific timeframes. Add individual project lines (or sub-projects) to carry out cost analysis and develop a project procurement management plan.
  • Improve cost control with real-time updates that include all transactions made on the system. Verify that cost forecasting aligns with your expectations, and react instantly to any deviations from an established cost management plan.

3. Monitor

Spend analysis tools allow you to perform cost tracking in real-time.

  • Real-time procurement analytics can be used to improve cost control for all branches, departments, and projects. Detailed spend information is available for each item in the item master database, and a transaction history can be reviewed for every supplier in your vendor list.
  • Ensure you get the most out of long term purchasing arrangements by reviewing the performance of contracts and service subscriptions. Simplify contract lifecycle management by receiving automated renewal reminders, and monitoring remaining item and monetary amounts in each agreement.
  • Track the details of each order, including required actions in the approval workflow system and status updates during invoice and PO matching. Optionally enable email notifications for each step of the order receiving process.

4. Report

Document procurement automatically to generate custom spend analysis reports.

  • Automated procurement record keeping allows data from any transaction to be compiled into convenient spend analysis reports. Pull procurement analytics from anything on the system – including buyers, branches, projects, locations, items, categories, and much more to specify exactly what metrics you want to include in each report.
  • Export information from any procurement documents to spreadsheet format for additional reporting flexibility. Filter your item master database or vendor list by category to populate convenient spreadsheet templates with relevant information from a complete history of associated transactions.
  • Saved spend analysis reports are updated in real time, even when changes are made by you or your team on the system. Review internal audit reports and procurement analytics with peace of mind, knowing that all information is always up to date.