How can Product Analysis help reduce costs?

The intuitive Insights dashboard helps you explore your spending patterns, helping to identify valuable cost savings opportunities. Requires subscription.

The Product Analysis section is a powerful tool to understand how much you're spending on regulated product categories, packages, and even the products themselves, making it easier to spot trends in your costs from your vendors and distributors.

Use these reports to:

Understand purchase patterns to forecast how much may be needed
Review margin trends. For example:
- If losing margin, should prices be increased?
- If gaining margin, is a distributor providing better costing due to quantity purchased?

The view defaults to product category. To view by all products themselves, select By Product. You can drill into a product category by clicking on a bar in the graph. You can also filter your analysis by category, container, and price segments.

Access to Insights requires subscription. Click here to learn more about subscribing to this and other expanded capabilities that simplify your business.

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Access to Insights requires subscription. Click here to learn more about subscribing to this and other expanded capabilities that simplify your business.

Viewing Products By Category

At a glance, understand which type of product is driving your business.

The top of the page provides your key metrics to understand how much your company spends on all products. These metrics include total spend, average spend by invoice and the number of invoices received weekly.

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Each key metric displays the numerical and percentage difference from a prior time period, depending on how you wish to compare them. Remember, you can change the time period at the top of the page (from quarter, month, between two chosen dates, etc.).

The bar chart will show how your spending has changed over time for a particular category. You can drill down to products in that category by clicking on a section of a bar.

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The table below offers more detailed explanation for the widgets and some of the questions they can answer.

Tiles	Description	Use Cases
Total Spend	Total amount spent on products. Calculated from received invoices with dates that are within range of time period chosen. The difference in spending between the current and previous time period is displayed on the right side of the tile.	Is your overall spending up or down from the previous time period?
Average Spend Per Invoice	Average amount spent on all invoices. The difference in spending between the current and previous time period is displayed on the right side of the tile.	Are your front-line prices covering your margin goals?
Invoices Per Week	Average number of invoices received over time. The difference in invoices received between the current and previous time period is displayed on the right side of the tile.	Are you getting more frequent deliveries? Are a product’s sales justifying their delivery amounts?
Spend Over Time by Product Category	Total amount spent on specific product categories, such as wine, spirits, beer, RTDs, non-alcoholic, etc. Hover over each bar’s section to view the spending amounts for each product category.	What product category is making up the most purchases? Are you buying products that are aligning with the current trends in the market?
Average Cost by Package Type	Average cost of different package types from products bought. Hover over the chart’s bars to see the cost of a specific package type. Use the package type dropdown in the top right corner of the tile to see spending on other package types.	Can you choose alternative packages to save costs?
Products by Price Segment	Total count of products bought within specific price ranges. Hover over bars to see count of products bought.	Are the main products being purchased too costly?
Top 5 Most Purchased Products	The 5 most purchased products bought within the chosen product category.	Does my spending breakout align to the target clientele? What products are selling well?
Bottom 5 Least Purchased Products	The 5 least purchased products within the chosen product category.	What products should I consider dropping (least frequently moving)?
Spend by Container	Total amount spent on products with a specific package type within the chosen product category.	How much are you really paying per unit?

Viewing By Product

Get a more detailed view by analyzing spend by actual product. As noted above, you can easily pivot by category, or filter for a specific kind of product.

For example, let’s say you want to understand your spending pattern for all IPAs. Simply enter IPA in the search to understand what percentage of your total spend is on IPA beer, the minimum and maximum price you paid, and how much has been purchased, so you can make informed decisions about this specific product.

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The page can switch from chart to table view to fit your preference. The chart view displays a graph of the average quantity of goods by invoice, with the average cost by week and year.

The purple squiggly line shows the average quantity of a purchased item per invoice, while the bars indicate the average cost of the item.

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Click View Invoices to review the actual invoices behind the analysis.