Jobs
Spend Analysis
Key terms and definitions relating to Spend Analysis
Here are some basic definitions and key concepts to get started.
Spend data(also known as procurement spend data) is information dealing with a company’s expenditures on goods and services purchased from external suppliers.
Spend data managementis the process of collecting, sorting, and managing that spend data.
Spend analysisis the process of analyzing spend data to find patterns, identify cost-saving opportunities, improve performance, and optimize procurement strategies. It involves collecting, cleansing, classifying, and analyzing spend data from various sources to provide insights. The primary goal is to gain visibility into spending to make more informed procurement decisions and improve financial efficiency.
Spend Analytics, on the other hand, refers to the broader application of advanced data analytics techniques to expenditure data. While it includes the basic elements of spend analysis, spend analytics goes further by leveraging tools like artificial intelligence (AI), machine learning, and predictive modeling. This allows organizations to not only understand historical spending patterns but also to predict future spending trends, assess supplier risks, and uncover deeper insights that can drive strategic procurement
Lea is a small village and civil parish in the West Lindsey district of Lincolnshire, England.[1] The population of the civil parish at the 2011 census was 1,009.[2] It is at the junction of the A156 and B1241, approximately 2.5 miles (4 km) south from Gainsborough town centre.
Lea village
Lea has a village hall, the Lea Institute, and a park with tennis court.[3] There are no shops in the village, the nearest being a supermarket and filling station 1.5 miles (2.4 km) away at Gainsborough.
The primary school is the Frances Olive Anderson School.[4] The school was established by Lady Anderson in about 1814, and the current building was built as a Church of England (Aided) school in 1966. Extra classrooms were added in 1971.[5]
The parish church is dedicated to St Helen. It is one of seven churches in the Lea group of the Deanery of Corringham in the Diocese of Lincoln. The 2013 incumbent is Rev Phillip Wain.[6] There is also a Methodist Chapel, part of the Gainsborough circuit.[7]
The nearest railway station is Gainsborough Lea Road on the Sheffield to Lincoln Line, with services to Lincoln, Sheffield, Retford and Doncaster. Lea is on a bus route, provided by Stagecoach, that runs from Scunthorpe to Lincoln.[8]
