Requis Analytics: Procurement Intelligence

Examining Procurment’s Data Problem 

We didn’t arrive at this issue overnight. Years ago, businesses could manage a few dozen suppliers and track their inventory without significant problems. As organizations expanded and supply chains came to include hundreds, if not thousands, of suppliers and inventory stores, procurement teams needed better ways to keep track of all this data.  

However, while manual data management solutions like spreadsheets improved things slightly, this presented a new issue: data became siloed and inaccessible across various teams. Even something as simple as a team member being out sick would leave whatever information their individual computer held locked away until they returned to the office. 

As more digital solutions came online, teams had a more accessible time gathering, managing, and leveraging data points for better procurement functions.  

Yet still, data silos remained since these programs—that held various amounts of spend data, contract data, inventory, and the like—didn’t connect which each other. On top of that, there’s the added task of figuring out how all these data points tell a fluid story of areas of success and areas ripe for improvement. 

Procurement has too many mandates and responsibilities across the business to continue working with decentralized data. That’s where Requis Analytics comes in. 

Data-Driven Solutions for Empowered Procurement 

Requis Analytics delivers the powerful data insights required for collaborative, compliant, sustainable procurement.

We give you a real-time reporting of your: 

• Procurement Data
• Spend Data
• Expediting Data
• Logistic Data
• Supplier Data
• Scheduling Data

Who Is Requis Analytics For? 

Requis Analytics is a powerful procurement reporting and dashboarding tool that can be used by both existing Requis customers and standalone users. It can consolidate and generate insights from internal and external procurement data without using Requis. 

For Requis customers, Requis Analytics can be embedded into workflows to give teams access to dashboards where they work. For example, project teams can see RFX progress from the project menu, and prequalification teams can track supplier reviews at the project level. Additionally, the Requis sustainability dashboard provides a real-time view of the organization’s carbon accounting. 

For standalone users, Requis Analytics can be connected to all different data sources, including ERPs, Excel, procurement solutions, and logistics solutions. Reporting is automated, and access is via a secure Requis login. 

Requis Analytics is designed to be shared. Customers can invite team members and third parties to view analytics. Reports can be scheduled to be sent via email on predetermined schedules, improving communication between teams, partners, and customers. 

How Does It Work? 

Forget the days of bouncing between programs or needing a complicated infrastructure to get a holistic view of your data. Requis Analytics is the fastest and easiest way to work with all your data in the cloud for full transparency and integrity across your business.  

• Gather Data: Custom formulas consolidate your data from any source in seconds via solution integrations or Excel.
• Supplement Data: The platform ingests data from existing ERP systems and secondary data from the web via dynamic dashboards. 
• Deliver Powerful Analytics: Access visual, customized insights that tell a holistic story of your procurement function. 

Reporting is live once your data is ingested and your dashboards are built. The dashboards will automatically update any time someone in the platform completes a task. 

Scalable Data at Your Fingertips 

The best procurement decisions are made using solid data. Requis Analytics lets you reshape your data into a format that best suits your business needs so you can immediately leverage those insights to: 

• Improve the quality of operations 
• Drive cost savings
• Increase material availability 
• Achieve sustainability goals  

With an entirely self-service experience after set-up, you can streamline control of insights surrounding procurement, spending, expedition, logistics, scheduling, and external points. In Requis Analytics, you can leverage a new single source of truth and ensure compliance across your entire procurement processes. 

The possibilities are endless when you have aligned, accurate, real-time analytics in your hands. 

Empower Your Procurement with a Robust Analytics Platform 

Requis is the only sustainable capital project procurement platform that delivers the centralized data you need to improve your cost, inventory quality, material availability, and sustainability. 

Book a demo with our team today to see Requis Analytics in action.