I took a quick 24-hour swing to the Bay Area this week, cramming in four separate meetings with a number of old and new faces alike. In one of these meetings, I had the chance to drill into a relatively new spend analysis application in the market. The vendor in question asked me what I thought about the tool and what I'd do to improve it. Of course the usual things came to mind, but in the demonstration, the product manager used the word "forecasting" numerous times. And then it struck me. Why are spend analysis tools only rear-facing? What if we could actually incorporate elements of forecasting -- with varying confidence levels, ranges, etc. -- factoring in what spend
might do versus simply gaining a rear-facing snapshot? For example, if we know spend is off contract or will soon be off contract and we know recent buying activity, why can't we forecast what the potential cost to the organization will be as a result?
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