Sievo Spend
UnclaimedUnlock significant savings and drive sustainable procurement with AI-powered spend analytics.
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TL;DR - Sievo Spend
- Transforms complex spend data into actionable insights for procurement.
- Leverages AI for automated data extraction, classification, and opportunity identification.
- Drives significant cost savings, improves ESG performance, and streamlines financial planning.
Pricing: Paid only
Best for: Enterprises & pros
Pros & Cons
Pros
- Guaranteed high classification coverage (98%+) and accuracy (94%+)
- Significant average incremental savings ($20M+ per $1B analyzed) and ROI (63x)
- Automates time-consuming data analysis and opportunity identification
- Provides a single source of truth for spend data across complex landscapes
- Enhances ESG performance and compliance reporting (CBAM, CSRD, GRI)
Cons
- No free tier or trial explicitly mentioned
- Primarily targets large enterprises, potentially less suitable for smaller businesses
- Requires integration with existing ERP and procurement systems
Key Features
Automated data extraction from multiple ERPs and procurement systemsData cleansing, translation, and material de-duplicationData enrichment with third-party and cross-customer Community DataAI-powered spend classification with high accuracy and granularityProactive supplier normalization and M&A updatesAI-generated high-value savings opportunities and optimizationsConversational analytics with Sievo IQ for instant answersOne-click action generation for savings initiatives, supplier emails, and task assignments
Pricing
Paid
Sievo Spend offers paid plans. Visit their website for current pricing details.
About Sievo Spend
By Toolradar Team·
Sievo Spend is a comprehensive procurement analytics software designed for data-driven enterprises to transform complex spend data into actionable insights and significant savings. It addresses the challenges large organizations face with messy, disparate data across multiple ERPs and procurement systems, providing a single source of truth for all procurement activities. The platform leverages AI and machine learning to automate data extraction, cleansing, enrichment, and classification, ensuring high accuracy and granularity.
This solution is ideal for procurement, finance, and sustainability leaders looking to maximize bottom-line impact, improve ESG performance, and streamline budgeting and forecasting. By providing a 360-degree view of spend, identifying high-value opportunities, and offering tools for proactive supplier management and negotiation, Sievo Spend helps organizations achieve substantial cost reductions, enhance supply chain resilience, and meet sustainability goals. It moves beyond static dashboards to offer dynamic, AI-generated insights and conversational analytics for faster, more informed decision-making.
How we evaluate tools →Source: sievo.com
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Sievo Spend FAQ
How does Sievo handle data from a highly decentralized organization with multiple ERP systems?
Sievo specializes in integrating data from complex landscapes, automatically extracting information from all your ERPs, data lakes, and procurement systems. It then cleanses, translates, and de-duplicates this data to create a unified, reliable single source of truth, even for organizations with diverse data sources.
What is Sievo IQ and how does it contribute to identifying savings opportunities?
Sievo IQ is a conversational analytics feature that allows users to ask specific questions about their spend data. It leverages AI to provide instant, accurate answers and uncover savings opportunities and high-impact optimizations by analyzing internal, external, and Sievo's cross-customer data.
Beyond cost savings, how does Sievo Spend support an organization's sustainability goals?
Sievo Spend offers full visibility into sustainability performance, enabling actions to drive compliance with frameworks like CBAM, CSRD, and GRI. It helps in reducing Scope 3 emissions, mitigating risks, and building a sustainable, resilient, and diverse supply chain by tracking and analyzing supplier sustainability targets.
Can Sievo's analytics help in proactive supplier management, especially regarding mergers and acquisitions?
Yes, Sievo provides proactive supplier normalization by combining AI, a cross-customer Supplier Database, and Dun & Bradstreet data. This ensures accurate normalization results and delivers validated updates, such as M&As, without manual effort, allowing for better supplier relationship management.
What is the 'Community Data' feature and how does it enhance the value of spend analytics?
Sievo's Community Data refers to anonymized cross-customer insights, recommendations, and benchmarks. This data enriches your internal spend data, providing a broader context for decision-making and helping to identify additional working capital opportunities, particularly within Payment Term Analytics.
How does Sievo differentiate its spend classification quality from other solutions?
Sievo guarantees the industry's highest spend classification quality, regardless of taxonomy customizations, with over 98% coverage and 94% accuracy. Its AI-powered classification incorporates validated learnings from its extensive cross-customer Community Data, allowing for continuous improvement and easy re-classification if a mistake is spotted.
Source: sievo.com