Financial services

PI provides services to Financial Services clients globally.

Services include Enterprise Analytics, Category Management, Software as a Service and Value for Money Procurement Functions and Processes.

PI has financial services clients benefiting from our analysis and modelling solution, Procuretrak^TM. Clients comment that the Procuretrak^TM solution has given them greater visibility on their spend while improving productivity of staff.  The solution does this by providing a highly visual and flexible platform to slice and drill down on large volumes of spend data at a click of a button, putting the power of report writing back in the hands of the users.  Clients in the sector use the tool to identify irregular spending patterns, and to help identify, and change inefficient procurement practice within their organisations.

In each case, PI has integrated all relevant data from as many data sources as required , providing all end users to work with their data in a way that positively transforms their ability to inform tactical and strategic decisions – by seeing information from any combination of cross referencing they need to , instantly.

The combination of this ‘business intelligence’ approach to procurement analysis, combined with the price benchmarking means that the opportunity for savings and efficiencies is further enhanced, since all qualifications and assumptions can be checked, instantly, right down to the lowest level of data granularity, before making a decision.

The solution is delivered to clients as a managed service, with all the data mapped and cleansed. The combination of perspectives and drilling is limitless; some example uses are listed below:

• Supplier risk: Instantly drill any current and potential supplier risk information, referencing any combination of your internal related data and what if scenario planning.
• How reliant are they on your spend as % of turnover? Who else provides the same service and at what risk profile? Which categories do we buy from them, and who buys it?  In my area, what alternative suppliers of the same category are there, that meet MY bespoke criteria on performance and risk?...drill any combination and get instant answers, before PQQ, in seconds.

Quick wins: Leverage the data in Procurement, Finance and P2P systems to instantly discover cash savings from information hidden in AP and elsewhere.

• Identify duplicate payments within seconds by any criteria combination.
• Recover your money on payment before terms
• Recoup cash paid in excess of agreed prices by any information cross reference.

Strategic Procurement:

• Identify immediate opportunities for intelligent aggregation of spend with fewer suppliers
• Sourcing: relate any supplier information to your own organisation’s activity and needs, to develop instant decision support analysis, based on all required data insights, before you go to market
• Spend analysis by any cross reference combination
• Compliance monitoring by PO, Contract...any criteria, by any reference to support intelligent category management.
• Contract management: see instantly who is using it, what history of spend, KPIs on contract performance, history of spend, who else could provide the service...all in one place