5 steps to move Procurement from cost centre to value engine, according to spend analytics experts

Together, four of the experts explored what strong spend analytics really looks like (without the jargon), how to fix finance–procurement misalignment, and how modern tools - from AI-driven procurement software to clean data management - enable organisations to make smarter sourcing and investment decisions.

The panel featured four spend analytics leaders: Nicolas Neubauer, Ivoflow, Thomas Siersbæk Heller-Njor, Costbits, Sigbjørn Nome, Ignite and Richard Brown, Anvil Analytical - and was moderated by DeepStream's CEO, Dan Gianfreda.

Missed the webinar? Watch the on-demand replay here.

From data chaos to clarity

One message was crystal clear: clean, accurate data is the foundation of effective spend analytics.

The panel agreed that most organisations underestimate the effort required to get data fit for purpose. Around 90% of the work sits in cleansing, categorisation, and enrichment - not in building dashboards. As Richard Brown (Anvil Analytical) explained, “You can’t deliver real insight if users can’t trust the data.”

With millions of invoice lines to normalise, automation now plays a critical role. Large language models can process roughly 90% of invoice data automatically - even in complex languages - allowing teams to move faster from chaos to clarity. But, as several panellists emphasised, AI doesn’t remove the need for governance; it accelerates progress when paired with expert oversight.

Buy vs Build: Why speed and focus matter

When it comes to deploying spend analytics solutions, the panel unanimously agreed: buying beats building.

Nicolas Neubauer (Ivoflow) argued that companies should focus on their core business, not developing analytics tools internally - especially when in-house projects can take three to five times longer and cost significantly more.

Modern best-of-breed procurement software provides plug-and-play connectivity, giving organisations access to live, enriched data within weeks - not months. Continuous product innovation, benchmarks, and integrations keep solutions relevant, while internal builds often fall behind as teams change or technology evolves.

Shared accountability: Who owns the data?

Data quality isn’t a one-team job. Thomas Siersbæk Heller-Njor (Costbits) stressed that accountability should be shared across finance, procurement, and supply chain:

• Finance owns transactional accuracy
• Procurement manages classification for strategic sourcing and supplier visibility
• Supply chain maintains their operational segments

This alignment fosters trust and clarity. Sigbjørn Nome (Ignite Procurement) added that misalignment often stems from teams working with different definitions of “truth.” A single, shared source of data - underpinned by consistent KPIs - is key to cross-functional collaboration.

Proving Procurement’s value

To move from “cost centre” to “value engine,” procurement needs to prove value in finance’s language. That means aligning KPIs and reporting against metrics that finance recognises - savings, cost avoidance, margin protection, and working capital impact.

All experts highlighted that data should serve a purpose: it’s not about building dashboards for the sake of visuals, but using analytics to drive measurable business outcomes. Procurement earns credibility when it can clearly show how its sourcing strategy supports margin resilience and overall financial health.

Start now, improve iteratively

A recurring theme was progress over perfection. Organisations shouldn’t delay transformation while waiting for flawless data. Instead, start leveraging what’s available, then refine it over time with expert guidance and better tools.

Continuous enrichment, AI-powered data validation, and embedded collaboration between finance and procurement are what turn spend analytics into a true value driver.

The bottom line

The discussion revealed that while tools and technology matter, the real differentiator is governance, accountability, and alignment. Clean data is the fuel, automation is the engine - but people and processes steer the value.

Procurement's path to delivering consistent value depends on using spend analytics not as a reporting tool, but as a strategic enabler that connects finance and sourcing around shared goals - measurable impact, transparency, and smarter decisions.

‍Start small, scale from there

DeepStream delivers best-of-breed AI-enhanced eRFx software with supporting source-to-contract modules. Our tech delivers the essential features that empower procurement teams to mature, step by step, without risking digital overwhelm. We prioritise usability, ensuring our solution is the simplest, cleanest, and most user-friendly in the industry, bolstered by our strategic customer success function.

The procurement tech space is filled with hype, overselling, and mis-selling of sweeping, end-to-end digital transformation initiatives. Yet these projects fail because teams are sold overly-complex solutions they’re expected to ‘grow into’. This leads to tech overwhelm, low adoption, and wasted investment.

Our customers start by implementing the least amount of tech needed to achieve their immediate goals, helping them ensure rapid value realisation. Want to benchmark your procurement maturity?

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