Our Solution — Value through Visibility

Data Preparation: Converting Data to Information

Our value delivery process begins with the transformation of your raw data into reliable spending information. This process entails the data cleansing and enhancement of spending data from Accounts Payable, Purchase Order systems, vendor feeds and other data sources, depending on your specific needs. We quickly generate one — or several — data cubes and establish a credible spending starting point for future analyses.

The Analysis: Finding Opportunities

Our powerful spend analysis tools allow us to cut through the complexity, focus in on areas of opportunity, and help your team extract maximum value from your data. Our tools let us identify and target spend categories that will yield the highest returns. We can look at what was actually spent and compare it to what could have been spent, based on historical data, cost indicators, and other benchmarking data. We can quickly identify how much is being spent on which vendors, how one group's spending compares to others, and to previous periods or to other benchmarks.

With line item (invoice) data, we can compare the pricing you actually receive to the pricing your contract specifies. We have seen many situations in which the invoice pricing is greater than the contract pricing or the prices specified in the contract only cover half the items that are actually being bought. This information can be converted into savings and improved contracts.

Unlike some analysis processes or sourcing exercises that can be lengthy, cumbersome, and highly invasive, Lexington Analytics delivers value in a very brief time using fewer resources and with minimal disruption.

See example

Value Delivery: Improving Procurement Practice

Using proven techniques, Lexington Analytics will quickly cut through the data clutter to help your team —

• Increase visibility to vendor spending and improve use of preferred vendors.
• Identify high-return sourcing opportunities to better manage purchasing resources.
• Empower negotiators with accurate vendor spending information and trend data.
• Better understand spend in key categories with detailed commodity reports.
• Increase contract compliance at a line-item level.
• Measure savings program success and identify areas for continuous improvement.

Convert client data into client value: see concrete examples