MindTree Ltd. (NSE: MINDTREE), a global IT and R&D Services company, today announced the availability of its Spend Analysis Solution for the manufacturing industry. MindTree’s Spend Analysis Solution will now offer organizations in the manufacturing industry enhanced control and optimization of their procurement costs.
With sourcing accounting for up to 75 percent of the total cost base of typical manufacturing organizations, extracting the required intelligence out of spend data not only directly contributes to cost savings but also provides significant inputs for budgeting, planning and product strategies. MindTree’s Spend Analysis Solution is aimed at helping organizations create global visibility into their spending patterns and save costs by making better, more informed sourcing decisions.
The solution is based on MindTree’s Re-Usable Business Intelligence Components (RUBIC) framework, which is a result of MindTree’s rich experience in building business intelligence solutions for the world’s leading manufacturers. The framework consists of three layers – data integration layer, to support consolidation of data from multiple transaction systems; intelligence layer, that contains spend related business metrics; and presentation layer, to enable intuitive and user-friendly dashboards for information delivery. Usage of these standardized technology components improves solution quality and significantly reduces the time-to-value for customers.
“With this solution, we hope to help our customers save costs via spend volume aggregation, supplier rationalization, improved contract compliance and ‘requisition to pay’ process improvements,” said MindTree vice president and head, Manufacturing Industry Group, Vikram Amaranath. “We believe our solution is well placed to help companies deal with the issue of controlling costs, which has become a strategic priority in the current economic environment.”
MindTree’s Manufacturing Industry Group offers consulting and IT services to automotive, discrete manufacturing, consumer products and process industries. The services offered span the entire value chain of manufacturing and cover areas such as product development, procurement and logistics, manufacturing and operations, sales and distribution and customer service. Services include application development, package implementation, application maintenance and support, testing services and infrastructure management. The Group also offers solution frameworks aimed at addressing specific industry needs such as in trade promotion management, dealer management, warranty management and manufacturing execution.