Spend Analytics Powers Actionable Data Analysis at Vulcan Materials
In 2014, when Vulcan Materials Company was looking or a solution to classify and consolidate data from different payment sources, from PCards to purchase orders, the company chose Spend Analytics. Vulcan Materials Company is the nation’s largest producer of construction aggregates.
Spend Analytics is a turnkey solution that provides the comprehensive analysis necessary to drive cost savings and bring 100 percent of spend under management. JAGGAER makes it easy by cleansing and classifying the data for Vulcan, and performing automatic data refreshes.
In 2014, Vulcan’s representatives said that Spend Analytics provided an intuitive and efficient service to meet that need. Spend Analytics allowed the Vulcan team to conduct the comprehensive analysis necessary to drive and measure cost savings.
Less than three years later, Vulcan is still seeing the benefits from the Spend Analytics solution, and recently extended its relationship with through JAGGAER’s Spend Analytics solution. Vulcan has successfully used JAGGAER’s spend analytics tool to gain actionable visibility into spend categories related to their purchase order, PCard and accounts payable transactions.
“Spend Analytics allows us to look deeper into the line-level data and see with greater accuracy where we are spending, who we are spending with, and identify specific areas where there are opportunities to reduce cost,” said Michelle Lax, Procurement Product Manager for Vulcan. “Now, when we need a report on what we are spending with a particular supplier, it’s simple to generate and it provides all of the detail our decision-makers need,” she adds.
Vulcan’s use of Spend Analytics extends well beyond its successful cost-savings projects. The company’s financial analysts are also taking advantage of the system to better understand what is happening with spend and help plant managers make better buying decisions. Vulcan also has added new data fields to augment the tool’s analytic capabilities.
“We are committed to continuing our long-term relationships with our customers by partnering with them, understanding their unique needs and delivering first-class eProcurement solutions and service. We look forward to helping Vulcan with their savings and spend initiatives for years to come,” said Rob Bonavito, CEO, JAGGAER.