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COSTDRIVERS Inc., based in Delaware, offers a Procurement Intelligence Platform aimed at Procurement Professionals designed to identify strategic opportunities for category management, reduce costs and facilitate negotiations with suppliers.
COSTDRIVERS is a global Procurement Intelligence Platform which enhances procure-to-pay systems such as Coupa.
Connect COSTDRIVERS™ with Coupa for monitoring prices and indexes for materials and services used in the durable and nondurable manufacturing, service, agricultural and government sectors. COSTDRIVERS™ transforms data into insights for strategic decision making.
COSTDRIVERS™ global data strategy platform provides you with:
- Exclusive data base with over 36,000 prices and indexes for commodities, services and operating supplies globally.
- Cost Model / Breakdown Analysis – exclusive cost model library with thousands of analyses for material and service categories.
- 24-Month Forecasts -- dashboard with customized alerts and cost evolution data so you can make strategic decisions.
- Budget Module -- for strategic planning including market intelligence data and more.
- COSTDRIVERS™ uses publicly available data, statistically smoothed to eliminate outliers. The data is collected using available API’s from the sources or from robots developed in-house.
- COSTDRIVERS™ also collects relevant news items related to specific indicators. We are in the process of upgrading this using AI.
- COSTDRIVERS™ generates 24-month forecasts using statistical methods, such as ARIMA or variants, involving co-variables (predictors) where available.
- Forecasts are continuously validated against historical predictions for the same time period and are always available for customer consultation.
- One of the keystones of the system is Cost Model (Breakdown) analysis where non-commodity products or services are analyzed in terms of their weighted (variable or fixed) cost components with 24-month forecasts.
- Additionally, the Budget module permits customers to build scenarios related to their current and forecast spend, a major time saver for procurement executives.
- COSTDRIVERS™ platform is accessible via Web, App and API.
- The COSTDRIVERS™ software is registered with the Brazilian Institute of Intellectual Property – INPI, and United States Trade Mark No. 5635920.
Cloud based SaaS service with annual / monthly subscription based on the number of seats a customer contracts.
The system consists on tens of thousands of prices and indexes for USA & Canada, Europe, Latin America and Asia. Should a customer require additional price indicators, we undertake to include them in the system, subject to availability of original data. Customers may include price indicators for their exclusive use.
With over 220 customers globally, 25 are Fortune 500 companies that have deployed the solution in a matter of days or weeks depending on the degree of customization required.
COSTDRIVERS™ offers over 36,000 industrial price indexes covering 25 sectors in 50 countries, several thousand Cost Model Analysis, and more.