Taulia, a leading platform for supplier financing, have launched Taulia Analytics, a product that provides corporations with insights into global supply chains.
Aggregates and analyzes millions of transactions since 2009
Taulia Analytics aggregates and analyzes millions of supplier transactions, from more than 300,000 suppliers, conducted on the Taulia portal since 2009. The analytics platform will provide customers with an unprecedented look at business trends, while helping companies set goals, compare themselves to industry averages, and streamline their supply chains. Customers will be able to compare their payment terms, DPO, and early payment discount rates against benchmarks in their industry, region, country, and across the globe. The platform provides immediate usable data to customers, without having to go through data mapping and cleansing.
"Taulia Analytics lets customers take advantage of Taulia's vast data of supplier behavior, and we believe it will help corporations become more profitable by better understanding their suppliers and larger industry trends," says Taulia Chief Product Officer Markus Ament. "We think customers will find the Taulia Analytics platform to be both a powerful and intuitive tool."
Real time statistics
In addition to analyzing industry trends, customers will be able to see, in real time, statistics on their own supplier data and transactions. The flexible Taulia Analytics dashboard lets customers examine their entire supply chains, groups of suppliers, or a single supplier, enabling unprecedented analysis on the micro and macro levels. The platform will also allow for customers to analyze their own spend, to help inform better buying decisions and maximize profits.
Taulia Analytics comes in the wake of President Obama's SupplierPay initiative, launched in July, which encouraged corporations to pay their small business suppliers faster to strengthen the economy. Since that White House initiative, Taulia has launched its Quick Start Initiative and the website SupplierPay.org, to help companies understand, support, and enroll in the initiative. Taulia Analytics furthers these efforts by identifying opportunities within supply chains to increase supplier enrollment in early payments and maximize discounts.
CTMfile take: Introducing e-invoicing on its own is not enough, companies should start by implementing e-invoicing + supplier financing and then moving quickly to using supplier analtyics to really exploit all the opportunities in the procure-to-pay supply chain. Taulia analysis and lessons from nine years of P2P transactions will be invaluable.