Spend Analytics Reviews & Product Details

Anvil Analytical's Spend Analytics module delivers AI-powered enterprise-grade spend analytics capabilities at a price point accessible to mid-market organisations. Anvil uses AI-powered document intelligence to extract, cleanse and structure data directly from ERPs, invoices and purchase orders. Spend is automatically classified with greater than 99.7% accuracy, with their analysts reviewing and resolving the remaining 0.3% to ensure reliability. Data is returned in your preferred taxonomy, while also being mapped to Anvil’s standard structure to enable consistent benchmarking against thousands of prior engagements. Anvil's detailed visualisation dashboards go down to your L3 category level and incorporate hundreds of external market indices to give you a full overview of your company's spend position. What differentiates Anvil's Spend Analytics module is the insights layer, which highlights cost-reduction opportunities. The platform's insights have been developed to follow supply and demand pull factors to help users identify both quick wins in high-impact categories as well as longer-term strategic opportunities, assessing factors like market attractiveness and switching difficulty. The module also gives deep dives of a category's materiality, churn, growth, and fragmentation to identify high-impact opportunities for category managers. Anvil Analytical is a smaller organisation, offering customised plans, additional AI-powered services, and rapid implementation times (typically between 2-4 weeks).