When it comes to managing business finances, knowing where your money’s going is half the battle. That’s where spend analytics software comes in.
From supplier payments and employee expenses to marketing budgets and SaaS subscriptions, spend analytics tools help businesses track, analyse and break down their spending. Whether you’re trying to uncover savings opportunities, improve cash flow visibility or make smarter budgeting decisions, there’s a spend analytics tool designed to help.
In this article, we’ve compiled a list of different spend analytics tools covering everything from procurement and accounts payable to marketing and supplier risk management.
Ready to find the right tools for your business? Let’s get started.
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Key takeaways:
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What is spend analytics software?
Spend analytics software is a category of tools that help businesses track, analyse and make sense of their company spending. From operational expenses and supplier payments to marketing budgets and software subscriptions, these tools pull together data from across your business to give you a clear, real-time view of where your money is going.
Spend analytics platforms help finance teams uncover savings opportunities, spot unusual spending patterns and make smarter, data-driven decisions. In short, they turn raw spend data into actionable insights you can actually use.
Whether you’re looking to tighten up budgets, improve cash flow visibility or keep a closer eye on supplier costs, there’s a spend analytics tool out there to fit your needs.
If you haven’t explored what spend analytics software can do for your business, now’s a great time to dive in.
Procurement spend analytics
Procurement and spend analytics software helps businesses get a clear picture of how much they’re spending, what they’re spending it on and who they’re buying it from. These tools pull together data from across the procurement process – think purchase orders, contracts, invoices – and turn it into actionable insights.
In short, it helps you spot savings opportunities, streamline supplier relationships and make informed buying decisions.
1. JAGGAER
JAGGAER is a cloud-based spend management and procurement platform. It’s designed to help organisations manage their entire source-to-pay (S2P) cycle – particularly in industries like manufacturing, life sciences and healthcare.
The Spend Analytics module, a core part of JAGGAER’s offering, gives you AI-powered data classification, cleansing, enrichment and analysis capabilities. If you’re looking for detailed, actionable insights into your spend behaviour, JAGGAER is a great option.
2. Coupa
Coupa is one of the most well-known spend analytics platforms on the market. It’s a cloud-based business spend management platform designed to give you full control and visibility of your business spend – from procurement to supplier management.
The tool’s Spend Analysis module offers advanced tools for consolidating, cleansing, categorising and analysing spend data from multiple sources, helping you track spending across procurement, expenses and supplier payments, automate and optimise purchasing workflows and get real-time spend visibility and analytics.
Expense management and transaction analytics
Expense management and transaction analytics tools make it easier to track, analyse and control day-to-day employee and team spending – whether it’s travel, meals, office supplies or software subscriptions.
These tools, which often come with smart company cards and features like optical character recognition (OCR) and real-time dashboards, help you stay on top of budgets and save everyone the pain of chasing receipts and filling out spreadsheets.
3. Pleo
With more than 1,480 five star reviews, Pleo is Europe’s most loved and trusted spend management platform. From daily business expenses to software subscriptions, Pleo gives you instant visibility of all your company spend.
Pleo's analytics dashboard offers detailed reports on spending patterns to help you identify trends, monitor budgets and make informed financial decisions. And with real-time tracking, easy categorisation of expenses and automated expense reporting, your finance team can keep up with expenses as they happen – no need to worry about overspending.
Accounts payable spend analytics
Accounts payable (AP) spend analytics software focuses on your invoice and payment data, tracking who you’re paying, how often and whether it’s all happening on time.
It pulls insights from your AP processes to help you tighten up processes, manage cash flow, reduce payment errors and get on better terms with your suppliers.
4. Tipalti
Tipalti is a great option for businesses that need to handle payments at scale, especially if you’re dealing with suppliers or partners around the world. It takes care of the entire payment process for you and works with all kinds of payment methods, including ACH, wire transfers and PayPal.
It’s built to handle international payments smoothly and even helps you stay on top of tax and compliance requirements.
5. Medius
Medius is a smart, cloud-based AP automation platform designed to take the hassle out of invoice management. From invoice capture to approvals and payments, Medius keeps your AP process running smoothly and efficiently.
With automated reporting and intuitive dashboards, Medius helps finance teams uncover savings opportunities, spot bottlenecks and stay in control of outgoing spend.
Category-specific spend analytics
Category-specific spend analytics tools zoom in on one particular area of spend – such as marketing or SaaS spend – and help teams understand where the money is going and whether it’s being used effectively.
Essentially, the idea of these tools is to give teams more control over their budgets and help finance teams spot inefficiencies that might slip through the cracks in broader analytics tools.
6. Uptempo
Uptempo is a marketing operations and performance management platform built to help marketing teams plan, budget and optimise their spend. From campaign planning to performance tracking, Uptempo keeps everything connected so marketers and finance teams can stay aligned.
Its spend analytics tools give you a clear, real-time view of marketing investments by channel, region and initiative, making it easy to track budgets, measure ROI and make data-driven decisions about where to spend next. No more guesswork, no more surprises.
7. Zylo
Zylo is a SaaS management platform that gives businesses complete visibility over their software subscriptions. From identifying duplicate tools to uncovering underused licences, Zylo helps you get your SaaS spend under control.
With detailed spend analytics and usage insights, Zylo makes it easy to track software costs, negotiate better deals and optimise your SaaS stack. It’s all about cutting waste, reducing risk and making sure every subscription is earning its keep.
Supplier performance and risk analytics
Supplier performance and risk analytics platforms track how well your suppliers are delivering – literally and figuratively. They analyse everything from delivery timelines and quality issues to financial stability and compliance risks to help you assess who your most reliable partners are.
These tools help you reduce risk, improve supplier relationships and make sure you’re not caught off guard by delays or disruptions.
8. RapidRatings
RapidRatings takes the guesswork out of supplier risk management by providing in-depth financial health ratings for your suppliers, vendors and partners. It analyses financial statements and performance metrics to give you an objective view of their stability.
The platform’s analytics help you track risk exposure across your supply chain, spot potential issues early and make more confident procurement decisions. It’s a handy tool for strengthening supplier relationships whilst protecting your business from financial surprises.
9. Aravo
Aravo is a supplier risk and performance management platform built for businesses that need to stay on top of third-party risk and compliance. From onboarding new suppliers to monitoring performance and mitigating risk, Aravo keeps everything organised in one place.
The tool’s analytics dashboards offer insights into supplier risk profiles, performance trends and compliance gaps so you can make smarter, safer sourcing decisions and avoid disruption before it happens.
What to look for in a spend analytics tool
The tools we’ve covered above tackle different parts of the spend analytics puzzle – from tracking employee expenses and monitoring supplier payments to analysing marketing budgets and assessing supplier risk. Together, they help you gain better control over company spend, uncover savings opportunities and make smarter, data-driven decisions.
When it comes to choosing the right spend analytics software for your business, here are a few essentials to keep in mind:
- Ease of use: A spend analytics tool should make it easy to pull insights from your data, not bury you in confusing dashboards. Look for platforms with clear, intuitive reporting and visualisation tools that both finance teams and budget owners across the business can get value from.
- Seamless integrations: To get the full picture, your analytics tool needs to talk to your other systems – whether that’s your accounting software, ERP, procurement platform, expense management tool or company card provider.
- Flexibility and scalability: As your business grows and your data gets more complex, your spend analytics tool should be able to keep up. Choose solutions that can handle increasing transaction volumes, multi-currency reporting and custom reporting needs without a hitch.
- Good value for money: Make sure the features and insights you’ll get from the tool are worth the investment. Look at pricing models, consider the time and cost savings from better decision-making, and weigh up how much visibility you’re really gaining.
Ultimately, it’s about finding a mix of tools that fits your business needs and gives you the clarity you need to stay in control of your spend – and what that means is fully up to you.
Final thoughts
And there you are – a list of tools from across the spend analytics spectrum to help you get a handle on your company’s spending. Whether you want to track operational expenses, optimise supplier payments, manage marketing budgets or reduce financial risk, there’s a tool (or two) out there to help you.
As businesses get savvier about data-driven decision-making, having the right spend analytics setup makes all the difference. It’s time to swap guesswork for clear, actionable insights.
