Working environments are changing and as businesses adapt to new models and employee behaviors, monitoring and reporting on organizational spend has become increasingly more complex. From a large enterprise, small business, to start-up, organizations struggle to balance growth against scalable practices to drive compliance with purchasing policies. Organizations who have the ability to analyze its spending can transform and improve existing methods to stay agile in creating a more resilient business model. This is why more organizations turn to Amazon Business and leverage Spend Intelligence Solutions to better understand spend across their organization, drive compliance with purchasing policies, and optimize cash flow.
With a clear view of your organization’s total costs, you can drive smarter purchasing decisions across your business. Our Spend Intelligence Solutions are broken into three main segments with tools designed for organizations at any stage from start-up, growing, to mature. Here’s how you can take your organization to the next level with Spend Intelligence Solutions.
To start optimizing your organizations spend, it’s essential to track current spend, monitor buying patterns, and use that data to influence smarter spending decisions. To that end, achieving Spend Intelligence starts with analytics insights. With Amazon Business Analytics, you gain visibility into your organizations purchase history and can use that data to identify top spend categories, spend from preferred and restricted items, and analyze purchases from diverse sellers. Further, if you’re a member of Business Prime, you can take advantage of Spend Visibility to improve transparency into your organization’s purchasing and spending trends by individuals or groups. With Spend Visibility you can leverage pre-built reports and dashboards or create your own to drive smart budgeting decisions, identify areas to improve compliance with purchasing policies, and find opportunities to save in the future. Our Spend Intelligence analytic tools are designed to save you time and money, drive faster decision making, and influence smarter spending habits across your organization.
“With Amazon Business, we can focus on what the data means rather than on whether it is accurate. We used to review purchasing data every two or three months. Now we can look at it in real time, which makes us much more agile in our decision making.”
— Mark Arrigotti, Head of Global Procure2Pay, Uber
Beyond leveraging analytics to understand your organizations spend, Spend Intelligence Solutions are connected to improving operations and simplicity by driving compliance. With a big-picture view of spend, you can now define buying policies, guide buyers to products or brands preferred by your organization, reduce rogue spend, and save time through a standardized process. No organization wants to micro-manage purchases but instead needs scalable mechanisms to govern and encourage purchasing throughout their organization.
To reduce rogue spend and foster transparency in your organization, you can utilize Buying Policies and Approvals, an intuitive and guided process for procurement pro’s and everyday buyers. Our Budget Management tool allows you to set spend limits on orders and steer buyers in your organization to stay within identified limits or seek approval for orders exceeding spend limits and help your organization keep a lid on rogue spend.
If you are not a Business Prime member, sign up and take advantage of Guided Buying. Whether your organization prefers to buy from specific brands or has Corporate Social Responsibility initiatives to reach, with Guided Buying you can identify preferred products or sellers, and restrict or block product categories, to guide buyer behavior across your organization. With Guided Buying, John Hopkins University implemented organization-wide policies to highlight and prefer local sellers. As a result, they’ve created significant growth opportunities for small and local businesses in their community and have saved time for buyers in their organization.
“We’re a rapidly growing business. Having visibility into cost will help us make better-informed decisions that will only improve as we and our purchases scale up. Amazon Business creates a balance between empowerment and speed, while making sure we’ve got compliance with internal spending policies, too.”
— Nathaniel Polky, Director of Information Systems, Sugar Mountain
With a view of your organizations spend and scalable mechanisms in place to encourage compliance, you can enable payment methods for all users to manage cash flow and reconcile purchases. Optimize cash flow for your organization by using a flexible payment solution from Amazon Business.
Pairing the convenience, value, and selection of Amazon Business with a Pay by Invoice line of credit can help your organization simplify and streamline purchasing. With Pay by Invoice, you can easily reconcile purchases through detailed item-level invoices available via email or in your Amazon Business account. You also have the ability to customize your invoices to suit your organization’s billing needs. For example, if your organization has multiple billing addresses, you can create templates specific to each address and assign that template to different groups within the organization. This feature can be helpful for organizations with different offices, different schools within a district, or the specific cost centers within the organization. Plus, there are no upfront fees and no interest for 30 days*, giving eligible organizations buying power and a simplified purchasing experience.
You can also explore the Amazon Business Prime American Express Card and earn rewards or take more time to pay with no interest. With the Amazon Business Prime American Express Card, you can earn 5% Back or get 90 Day Terms on U.S. purchases at Amazon Business, AWS, Amazon.com, and Whole Foods Market with an eligible Prime membership. Earn 5% Back on the first $120,000 in purchases each calendar year, 1% Back thereafter. Terms and cap apply.
*Subject to credit approval.
“Amazon Business’s credit terms help our internal cash flow tremendously. We have wild spikes in business volume, and this gives us the flexibility we need. It makes capital equipment expansion much easier.”
— Chris Tiesman, Chief Financial Officer, CSAT Solutions
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