January 18, 2020 – Walnut Creek, CA — Conductiv™, a leading third-party spend optimization solutions provider, announced today it’s releasing innovative, new features for Analytics in its Conductiv Platform. The newest iteration of Conductiv’s purchased services Analytics engine – which was designed to measure spend by category, supplier, and facility - combines the power of AI-driven data categorization with new filtering capabilities and richer reporting functionalities to provide more visibility into actionable data.
Originally launched in 2017 as part of Conductiv’s end-to-end purchased services spend management platform, Analytics joined Benchmarking and Contract Intelligence and Negotiate as a marquee technology suite for healthcare supply chains. Since its inception, Analytics’ modular product offerings have provided supply chains with transparency into spend by category and revealed ROI predictions for sourcing alternatives.
The latest improvements to Analytics are expected to bring game-changing results to the marketplace, enabling data accessibility and informed decision-making, allowing supply chains to:
Unlock Efficiencies with Category Reports
Analytics takes a deeper dive into insights and transaction reporting, seamlessly integrating with Conductiv’s entire product roadmap to provide purchased services teams with actionable next steps. Analytics helps customers create data-driven strategies and, when combined with Conductiv’s powerful new search engine, Business Rules, enables supply chains to unlock the power of their data.
Access Powerful Spend Overviews
With an enhanced, intuitive user interface, customers can easily view spend by category and supplier. Organizations gain different looks at their data through added visibility into total spend and potential savings ranges by category. This reveals additional opportunities for deeper savings as well as context for future discussions with suppliers.
Interpret Data with More Powerful Filters
Data can now be filtered more granularly by month, service line, facility group, general ledger code and cost center. This feature enables customers to pull more meaningful data insights and provides teams with a better understanding of their purchased services categories to drive well-informed decisions.
Amplify Automation with Business Rules
The Analytics update includes the ability to use Conductiv’s new Business Rules, a search engine that sets behind-the-scenes conditions to automatically separate spend across suppliers or categories. Business Rules automates the process to simplify day-to-day tasks across purchased services teams.
"Many supply chain teams struggle to find reliable, actionable insights to guide their decision-making processes," said Conductiv CEO, Chris Gormley. "These additions to the Conductiv Platform are a direct answer to our customers’ needs and integrate seamlessly with our full product line so that it's easier than ever before to leverage data to improve purchased services contracts."
For more information, please visit conductiv.com/products/conductiv-platform/analytics.
ConductivTM empowers supply chains to optimize their third-party services. As the only end-to-end third-party lifecycle improvement company, ConductivTM shares its strategic sourcing expertise and category best practices with multiple industries including healthcare, hospitality, government, real estate, transportation and education. Member projects have generated $800 million of documented savings or an average savings value of 24% to date. To learn how supply chains are transforming their savings strategy, visit Conductiv.com.