Spend analytics

Product-level visibility on your spending

Spending too much on iPhones? Or industrial-strength power transformers? Spend analytics lets you track your company’s spend on a 5-level hierarchy. Drill down to every invoice line-item, product, or service.

Powerful analytics tools

Our tools enable a dynamic visualization of your purchases. Search for suppliers, products, and services categories or keywords. Aggregate or drill down, compare prices and spend over time, and identify top purchasers and suppliers, so you can make sure you’re paying the right price.

Automated classification with global standard

Improve how your organization makes purchasing decisions with complete control of your historical and real-time data. Validated invoices are automatically classified according to UNSPSC, a global standard with over 50,000 products and services.

About UNSPSC classification

Contract management
& compliance

Ensure the financial performance of your contracts. Eliminate deviations between agreed and actual prices. We instantly and automatically give you actionable information by comparing and analyzing line-item level pricing on supplier invoices with price lists.

Improve procurement with spend analytics

Does your company buy from suitable suppliers for the right price? Spend analytics can help you save 5-20% of your total spend (Aberdeen Group). Qvalia enables you to make real-time procurement decisions based on your purchases with effortless spend analysis.

It just works

Get your customized spend analysis dashboard without effort or investments in additional software. With Qvalia as your e-invoice operator, it just works. There is no time-consuming setup and no expensive stand-alone software. Qvalia is easy to integrate into any ERP.

What is spend analysis?

Spend analysis is the process of collecting, classifying, and analyzing an organization’s spending to understand where its money is being spent and identify opportunities for cost savings. Classification is made according to standardized systems such as UNSPSC or custom-made categories.

Spend analysis aims to help organizations optimize their spending and improve their financial performance by identifying areas where they may be overspending, underutilizing resources, or paying higher prices than necessary for goods or services. Spend analysis involves reviewing an organization’s purchasing data, contracts, invoices, and other financial records to gain insights into how it spends its money. This process typically involves using data visualization and analytics tools to help identify patterns and trends in the data, and then using this information to inform decision-making and identify opportunities for cost savings.

Qvalia’s Spend Monitor provides a complete solution for spend analysis, including automated classification of invoice line-item data, analytics tools, and export capabilities.

What is UNSPSC classification?

The United Nations Standard Products and Services Code (UNSPSC) is a hierarchical classification system for classifying products and services. It is a standardized coding system used globally to facilitate the exchange of goods and services. The UNSPSC consists of codes identifying and classifying products and services based on their characteristics, functions, and uses. These codes are organized into a hierarchy, each representing a different level of detail or granularity in classifying the product or service. The UNSPSC is used by organizations worldwide to classify and describe the products and services they buy, sell, or produce and to facilitate the procurement and supply chain processes.

Spend Monitor by Qvalia automatically categorizes all purchases on a line-item level according to UNSPSC. The information is instantly available for analysis using our analytics dashboard or data export.

Learn more about UNSPSC.

Which technologies does Qvalia Spend Analytics use to classify invoice information?

Qvalia uses machine learning and artificial intelligence to automatically classify purchases on a line-item level at scale. The categorization is instant, independent of the number of invoices or line items.

How many spend analysis reports can be created?

Spend analytics allows users to create and edit an unlimited number of reports.

Can I export my spend analysis reports?

You can download reports as CSV, PNG or SVG from the web interface, integrate via API for seamless exports to your ERP or BI system, or contact us for custom exports.

Which languages can Spend Analytics process?

Spend Monitor manages all invoices using Latin script. Our classification technology is language agnostic.

What is the price of spend analytics?

Spend analytics is a part of Qvalia’s platform and is available via our Insight plan. The cost varies depending on your transaction volume. In general, the cost is a monthly subscription fee and might include a one-time setup fee.

For more information, see our pricing page.