SpendHQ launches Savings Radar to rank procurement savings

SpendHQ has launched Savings Radar for procurement teams. The product is designed to identify and rank potential cost-saving actions from company procurement data.

The new offering analyses spending, contract, sourcing, project, and realised-savings data to flag opportunities teams can act on. It ranks those opportunities based on factors including relevance, potential value, and urgency.

Examples include contracts nearing renewal at unfavourable prices, process weaknesses linked to spend leakage, and cash that could be released for other uses. The aim is to give procurement teams a single view of where savings may be available, rather than relying on isolated alerts based on a single metric.

The launch comes as companies continue to seek measurable returns from artificial intelligence spending. SpendHQ cited Boston Consulting Group research showing that 14% of AI pilots deliver meaningful financial results.

Scott Macfee, Chief Executive Officer at SpendHQ, said the product is intended to move procurement teams from analysis to action.

"Procurement has become a strategic driver of growth, resilience, and profitability," said Scott Macfee, Chief Executive Officer at SpendHQ.

"AI should make procurement more decisive, not simply more informed. With Savings Radar, teams can spend less time searching through data and more time pursuing opportunities that strengthen business performance," Macfee said.

How it works

Savings Radar presents a ranked list of savings opportunities, estimated savings ranges based on the company's benchmark data, and suggested next steps, such as renegotiating a contract or fixing a process gap. Users can also act on recommendations through procurement-focused AI agents within the platform.

Each opportunity links to an AI agent with relevant context. Those agents can also do preparatory work, including producing negotiation playbooks for buyers before discussions with internal stakeholders and suppliers.

Matt McCarrick, Chief AI Officer at SpendHQ, said the company sees proactive systems as the next stage for artificial intelligence in procurement.

"Procurement teams don't need another tool that waits for them to ask the right question," said Matt McCarrick, Chief AI Officer at SpendHQ.

"The next evolution of procurement AI is proactive. AI will continuously connect signals across the procurement ecosystem to identify where teams can create the greatest financial impact and give people the context to decide what to do next. Savings Radar brings that model to savings identification," McCarrick said.

Governance focus

SpendHQ said the tool was built with governance controls intended for larger organisations. Each identified opportunity is backed by signals in a customer's own data, providing an auditable basis for prioritisation and estimated value.

Customer data also stays within SpendHQ's infrastructure and is not used to train models. That issue has become increasingly important for procurement leaders and other corporate buyers adopting artificial intelligence tools in regulated or tightly controlled environments.

Industry data cited by SpendHQ points to wider interest in technology and automation across procurement functions. The Hackett Group has found that procurement organisations investing in technology and process automation achieve 2.1 times greater cost savings, 2.6 times higher return on investment, and 20% lower operating costs than peers.

Savings Radar forms part of SpendHQ's broader effort to position procurement as a source of measurable financial impact rather than a purely administrative function. The new product is meant to help teams connect trusted internal data with practical follow-up actions so potential savings can be investigated and pursued.

The system evaluates spending data alongside contract, sourcing, project, and realised-savings information to produce what SpendHQ described as a consistent basis for identifying and ranking procurement opportunities.