Enterprises running SAP for procurement and accounts payable are always looking to create greater efficiencies by combining these data sets to monitor vendor performance for quality and reliability, analyze global spend across the organization and optimize the use of working capital to make timely vendor payments that earn the highest discounts.
But in today’s inflationary environment, the need to analyze data from procure-to-pay processes is more important than ever as rising prices threaten to reduce purchasing power and erode real income. Many of these enterprises are looking for accelerated ways to link their enterprise procure-to-pay data with surrounding non-SAP data sets and sources to gain more meaningful insights and business outcomes. Getting there faster, given the complexity and scale of managing and tying this data together, can be an expensive and challenging proposition.
To embark on this journey, many companies choose Google’s Data Cloud to integrate, accelerate and augment business insights through a cloud-first data platform approach with BigQuery to power data-driven innovation at scale. Next, they take advantage of best practices and accelerator content delivered with Google Cloud Cortex Framework to establish an open, scalable data foundation that can enable connected insights across a variety of use cases. Today, we are excited to announce the next offering of accelerators available that expand Cortex Data Foundation to include new packaged analytics solution templates and content for procure-to-pay processes.
Introducing new analytics content for procure-to-pay
Release 4.2 of Google Cloud Cortex Framework includes new data marts, semantic views and template Looker dashboards to support operational analytics on three procure-to-pay topics and the relevant metrics for each.
Leverage the metrics delivered in our new Accounts Payable content to identify potential issues and areas for optimization with respect to short-term obligations to creditors and suppliers which have not yet been paid:
- Accounts Payable Balance Due
- Days Payable Outstanding
- Accounts Payable Aging
- Accounts Payable Turnover
- Accounts Payable by Top Vendors
- Upcoming Payments and Penalties
- Cash Discount Utilization
- Blocked and Parked Invoices
Analyze procurement spend on goods and services across your organization and identify opportunities to reduce costs and improve efficiency with the following metrics delivered in our new Spend Analysis content:
- Total Spend
- Spend by Top Vendors
- Spend by Purchasing Organization
- Spend by Purchasing Group
- Spend by Vendor Country
- Spend by Material Type
- Active Vendors
Use the metrics included with our new Vendor Performance content to improve efficiency and profits by comprehensively analyzing the delivery performance, quality, accuracy and unit costs of your suppliers and then take tactical decisions to improve your bottom line by increasing business with your most reliable and lowest cost vendors:
- On-time Delivery Performance
- In-full Delivery Performance
- Rejections Rate
- Invoice Accuracy
- Purchase Price Variance
- Vendor Lead Time
- Open Purchase Orders
What’s next
This release extends upon prior content releases for SAP and other data sources to further enhance the value of Cortex Data Foundation across private, public and community data sources. Google Cloud Cortex Framework continues to expand content to help better meet our customers’ needs for data analytics transformation journeys. Stay tuned for more announcements coming soon!
To learn more about Google Cloud Cortex Framework, visit our solution page, and try out Cortex Data Foundation today to discover what’s possible!
