Purchasing Analytics

Procure essentials in a timely manner at the lowest possible cost, and improve purchasing processes organization-wide, using data analytics precisely designed for the purchasing processes.

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Procure essential goods and services for your organization in a timely manner, at the lowest cost, and in accordance with contract specifications. Make data-driven improvements to your purchasing process, from the creation of the requisition to the change in the purchase order. Identify high-risk transactions, employees, approvers, departments, and vendors. ThirdLine features 35+ built-in audit analytics + interactive dashboards for continuous monitoring and analysis.

Purchasing Risk & Internal Controls

The Purchasing function of an organization serves to procure goods and services in a timely manner and at the lowest cost, while encouraging healthy competition and honoring contract specifications. Leveraging analytics solutions in your purchasing audit can surface risk and waste and drive process improvements. Lowering risk and optimizing purchasing performance can benefit an organization’s standing with its employees, vendors, and citizens. The best part: You already have the data.

Understand Risks with Audit Analytics

Enterprise Resource Planning systems capture massive amounts of data within your municipality in real time. Automating your ERP data (e.g. data analytics) will allow you to quickly identify and understand risks occurring in your organization and use it to make changes and adjustments for an optimized process and improved performance.

Data analytics are written to track transactions as they move through the ERP workflow. Each analytic is asking a question of transaction. If the transaction meets the criteria, the analytic will flag the transaction. A single transaction could be flagged by multiple analytics.

Examples of Purchasing Analytics

1. Duplicate Requisitions

  • Step: Requisition Created
  • Description: Flags if two or more requisitions have the same suggested vendor, department, requisition type, and amount.
  • Use Case: Investigate, resolve, and recommend control/ training.

2. First PO for New Vendor

  • Step: Requisition Converted
  • Description: Flags if the purchase order is the first for the vendor.
  • Use Case: Validate PO and vendor.

3. Goods Received Before PO Date

  • Step: PO Receiving
  • Description: Flags if the entry date of a purchase order comes after the date when the first goods related to the purchase order are received.
  • Use Case: Clarify source of issue; recommend process improvement.

Get in Touch

We are ready to help integrate our monitoring platform into your state and local government ERP system.

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