Summary introduction to ProcureAnalytiq
ProcureAnalytiq is a online software tool that enables you to chart the price development of your procured products or categories against a benchmark index that you define.
The benefit of doing so, gives you a better feeling for the development of procurement prices and better to able to explain and predict changes in price to management.
This is what that Benchmark Index could look like.
ProcureAnalytiq will chart the price development of both indexes
ProcureAnalytiq will allow you to see the price development of both your baseline index and the benchmark index you have created.
The tool will also indicate when the movement between the 2 indexes is moving out of balance, suggesting there will be an adjust in the price of the baseline.
This is what that tracking graph would look like.
ProcureAnalytiq has a database of commodity prices, but you can add your own private data.
ProcureAnalytiq has a database of commodity, economic and FX data for you to built into your benchmark index.
But it also allows user to load their own private price index data which is solely for their own use.
The look-up on price data works on a simple type and click function
ProcureAnalytiq gives significant business benefits
Tracking prices against a benchmark index will increase your insight into the prie development of the product you purchase.
You will be able to:
- better negotiate and better forecast prices
- reduce business risks and surprises
- reduce your workload
- communicate easier with the Board and senior management
This is what that the statistical analysis looks like.
Price index introduction
Price index use cases
Price index tools
DELIVER DIRECT MATERIAL SAVINGS
ProcureAnalytiq is an online cloud-based software tool to track market developments and leading indicators related the direct material purchases for your business.
ProcureAnalytiq enables user to faster reaction to market changes, better negotiations, automated forecasting of material pricing, better internal and external communication, and ultimately reduces direct Raw Material prices.
Interested to explore more?