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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
Oasby is a hamlet in the civil parish of Heydour, in the South Kesteven district of Lincolnshire, England. It lies 7 miles (11 km) north-east of Grantham.
Oasby, Heydour, Aisby, Culverthorpe and Kelby are the five hamlets within Heydour parish.
Oasby Manor House is a Grade II* listed building dating from the 17th century with reused 15th-century stonework and 19th-century alterations. There is a 15th-century Oriel window on the first floor.[1]
Manor House Farm is a 17th-century single story Grade II listed farmhouse.[2]
Oasby Mill is a tower windmill, built about 1810 of black bitumen painted ashlar. It is Grade II listed, and all machinery has been removed.[3]
The village public house, the Houblon Arms, was built about 1700 and is Grade II listed.[4]
The parish holds community events, usually in Aisby village hall, with a book club, art club, cricket club, annual art exhibition and January pantomime
