SOURCE: BDNA

BDNA

September 10, 2013 10:00 ET

BDNA Solves IT Procurement Challenges With Breakthrough Data as a Service Solution for Business and Financial Data

Company Introduces Industry's Most Comprehensive Purchase Order Normalization Solution to Help Enterprises Make More Informed Purchasing Decisions

MOUNTAIN VIEW, CA--(Marketwired - Sep 10, 2013) - BDNA, the leading Data as a Service (DaaS) company, today announced its Purchase Order (PO) Normalization solution, which through its "data-first" approach, will dramatically change how IT spend is calculated and managed. BDNA's PO Normalization solution provides a comprehensive view from purchasing to deployment with accurate and precise data. Using this clean data, organizations can expect better spend analysis, improved business value realization, forward planning, demand management and reduced software audit risk.

Connecting the Data Dots Between Purchasing and IT Departments

In many organizations, Purchasing departments have a set of PO records from multiple vendors with inconsistent definitions, formats and descriptions making it nearly impossible to decipher the accrued entitlement by their related IT department. In an analysis of POs from four of the largest financial institutions in the world, BDNA discovered that more than 60% of POs didn't have the right information to reliably ascertain entitlements.

These challenges are taking place while IT departments are currently undergoing a massive transformation. They are adopting new technologies, push for massive efficiencies and accelerate services to their users, while at the same time attempting to decrease or maintain their overall spend. The core problem is that neither Purchasing nor IT is able to rationalize the data within their own domains let alone correlate the buy with the utilization. This leads to multiple problems such as overbuying/under-buying, an inability to forward forecast and increased time spent on compliance and audits.

Purchasing departments need solutions to support and augment this transformation and provide consistent and comprehensive visibility of all the products purchased by their IT department. By "connecting the dots" through clean and normalized data, these groups -- for the first time -- can truly optimize its spend, properly forecast and avoid audit and compliance challenges.

"IT procurement executives need to promote their capabilities rapidly outside the IT department," said Alexa Bona, Vice President Distinguished Analyst, Gartner. "They must revise their processes and offerings to be more compelling to the business, in order to regain some control and influence over IT purchases and counter the risk that the value they deliver is unknown or perceived as redundant or irrelevant." *

BDNA's PO Normalization Drives Clarity and Optics Never Seen Before for IT Purchasing

The key breakthrough in BDNA's PO Normalization solution is the ability to accurately decipher hidden information in both the structured and unstructured data fields in POs, thereby providing an accurate picture of the entitlement that's never before been achieved.

"Having managed over $4B in annual IT spend, I can confidently state that the capability to obtain a consistent view of all product purchases across all suppliers is critical to control spend, reduce compliance risk, rationalize products, and rationalize suppliers," said Walter Taylor, SVP at Genesis 10 and former SVP of Technology and Operations Supply Chain at a global Fortune-500 bank.

BDNA's PO Normalization Capability works across hundreds of vendors and thousands of vendor products. The end result is high quality data that organizations can use to improve business value realization, forward planning, demand management, audit risk reduction, and product and vendor rationalization.

"The advent of the Internet of Things, cloud and mobility, is making procurement more challenging as more data is coming into organizations and the processes already in place are massively insufficient," said Constantin Delivanis, CEO of BDNA. "With BDNA's PO Normalization, not only are we providing organizations with a data oriented approach to solving these procurement challenges, but we are extending our footprint to financial and business data."

For more information about PO Normalization, please visit, www.bdna.com/PONormalization

*Agenda Overview for IT Asset Management and Procurement, 2013 - January 4, 2013

About BDNA
BDNA is the leading Data as a Service company whose industrialized approach to delivering clean data enriched with the right market intelligence solves the challenge enterprise IT has faced for years in wasteful spending, recognizing risk, improving IT processes and unlocking new value streams. Using BDNA's Technopedia™ as the common language, data intelligence flows to the right places of an organization, applications now give valuable insights and organizations are better connected with each other and their customers. Venture backed, the company has locations around the globe and is headquartered in Mountain View, California. For more information, please visit www.bdna.com.

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