The new system is expected to offer enhanced control and optimization of their procurement costs
IT services provider MindTree has launched a spend analysis system for the manufacturing industry. The new system is expected to offer manufacturing firms enhanced control and optimization of their procurement costs.
MindTree’s spend Analysis system is expected to help organizations create global visibility into their spending patterns and save costs by making better, more informed sourcing decisions.
According to MindTree, the system is based on its re-usable business intelligence components (RUBIC) framework. The framework consists of three layers – data integration layer, to support consolidation of data from multiple transaction systems; intelligence layer, that contains spend related business metrics; and presentation layer, to enable intuitive and user-friendly dashboards for information delivery. Usage of these standardized technology components improves solution quality and reduces the time-to-value for customers.
Vikram Amaranath, vice president and head for manufacturing industry group at MindTree, said: 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. 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.