Spot-on savings: MindTree unveils spend analysis for manufacturing
Extracting the required intelligence out of spend data not only directly contributes to cost savings, but also provides significant inputs for budgeting, planning, and product strategies. MindTree says its new Spend Analysis solution enables strategic sourcing and better analysis of spend information to help organizations save on sourcing costs.<br/>
With sourcing accounting for up to 75 percent of the total cost base of typical manufacturing organizations, extracting the required intelligence out of spend data not only directly contributes to cost savings, but also provides significant inputs for budgeting, planning and product strategies. MindTree , a global IT and R&D services company, says its recently launched Spend Analysis Solution is aimed at helping organizations create global visibility into their spending patterns and save costs by making better, more informed sourcing decisions.
The solution is based on MindTree’s Re-Usable Business Intelligence Components (RUBIC) framework, which is a result of MindTree’s rich experience in building business intelligence solutions for the world’s leading manufacturers. The framework consists of three layers:
• Data integration layer, to support consolidation of data from multiple transaction systems;
• Intelligence layer, which contains spend related business metrics; and
• Presentation layer, to enable intuitive and user-friendly dashboards for information delivery.
“With this solution, we hope to help our customers save costs via spend volume aggregation, supplier rationalization, improved contract compliance and‘requisition to pay’ process improvements,” says Vikram Amaranath, VP of Manufacturing Industry Group, MindTree. “We believe our solution is well placed to help companies deal with the issue of controlling costs, which has become a strategic priority in the current economic environment.”
The manufacturing group offers consulting and IT services to automotive, discrete manufacturing, consumer products and process industries. Services include application development, package implementation, application maintenance and support, testing services and infrastructure management. The Group also offers solution frameworks aimed at addressing specific industry needs such as in trade promotion management, dealer management, warranty management, and manufacturing execution.