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Spend analytics is vital in ensuring maximum efficiency in procure-to-pay cycle

Bottomline Technologies, a leading provider of cloud-based payment, invoice and banking have announced their acquisition of Rationalwave Analytics, an early stage predictive analytics company. The company plans to leverage Rationalwave’s technology and expertise to extend the innovation Bottomline offers its customers. “Predictive analytics will bring new levels of capability to our product set and significant business value to our customers,” said Rob Eberle, President and CEO of Bottomline Technologies.

Spend analytics and e-invoicing 
Using e-invoicing data in spend analysis changes the game in managing your suppliers. Instead of using orders placed, which can vary considerably from what was purchased, it is the actual payments to the supplier that are analysed producing much more insight into your purchase programmes. 

The biggest e-invoicing networks such as OB10 and Ariba offer integrated spend analytics as part of their services. Ariba describes their Spend Analysis as: “gather, classify, and enrich spend data to make smarter, faster buying decisions, guided by market intelligence and insight.”

CTMfile take: Integrating e-invoicing and spend analytics is essential. Why buy them separately? If you have separate services, are you missing out in maximising the efficiency of the procure-to-pay cycle?

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