Cut Time Spent on Delivering Procurement Data into your ESG Reporting
Empower your team with smart, Scope I-II-III categorization. CostBits simplifies the delivery of spend data into the ESG reporting helping you reduce time and effort for your team.
Why should you consider CostBits?
Real-Time Scope I-II-III Visibility
Get instant insights into the split of your procurement cost across all Scope categories. CostBits supports the delivery of data into your sustainability department for ESG reporting.
Simplified ESG Reporting
Say goodbye to complex and time-consuming spend collection and cleaning to support those ESG reports. CostBits automates data collection and streamlining your internal scope categorization efforts.
Concrete Guidance for data delivery
We already have all your spend data, but re-categorizing it into Scope I-II-III is time consuming. With out native drag and drop categorization feature, all spend can be recategorized in days not weeks.
Empower Your Entire Team
From managers to junior staff, CostBits equips everyone with the tools to recategorize the spend. No longer is it a single person task, but rather a quickly distributed team effort.
Empowering Sustainable Procurement Decisions
CostBits is more than just a cost-saving tool; it's your partner in making procurement decisions that positively impact the environment. We provide you with a clear view of your supplier cost base that can be instantly shared with your sustainability organization for e.g. CO2 conversion. Our mission is simple: empower every procurement professional to work with Sustainability in an easy low-effort fashion.
Enabling Sustainability With Procurement Data
We integrated the Scope I-II-III categorization directly into your spend management pages. No extra learning, super fast machine learning based re-categorization enabled based on your own previous categorization. Our easy-to-use platform gives everyone—from managers to junior staff—the tool to instantly support Sustainability's efforts to drive better environmental behavior.
Be sustainable without overloading your team
We’ve partnered with companies that share our vision of making procurement more sustainable. Through CostBits, these companies have not only cut costs but also reduced their time spend on support the ESG reporting. One client achieved an +85% reduction in their workload in delivering correct spend data into the ESG reporting . It’s about those incremental, smart choices that add up to meaningful change—helping your business become both cost-effective and environmentally responsible.
We solve real issues for our clients.
"Procurement was understaffed and our CFO did (rightfully) not really trust our reporting - since it didn't fit with his accounting perspective on the supplier cost. Having now a uniform and easy to use CostBits solution that both Finance and Procurement can engage in - we can focus on execution and support each other in creating results instead of discussing data and poor numbers.”
"Their sales team did tell us that making a similar solution ourselves was not as easy as we made it up to be. Six months later we had only covered the basics, got stuck in excel and CSV files plus neither our data mapping nor the deep analytics visuals really worked. We went back to CostBits for their solution and got back on track in weeks."
"We thought that we already had great spend insights. We had the latest BI tools available, an existing external spend solution and a robust data collection setup. However when CostBits engaged our users - our own staff confirmed that no one used the inhouse BI setup and that they really only used 1-2% of the VERY expensive external spend solution. By moving to CostBits we finally provided our staff with a tool fitted for their actual purpose and right out of the box.”
Frequently asked questions
How does your platform help reduce procurement costs?
Our platform provides full visibility into supplier costs and identifies key areas for savings, guiding strategic actions for impact.
Can your tool handle complex data from multiple sources?
Absolutely. We merge, clean, and enrich data from all sources, providing a unified view of your procurement spend.
How does the CO2 equivalent feature work?
We convert procurement data into CO2 equivalents using standardized calculations, helping you assess and manage your environmental impact.
Is CostBits suitable for medium-sized companies?
Yes, our platform is designed specifically to give medium-sized companies insights usually reserved for industry giants.
How quickly can we see results after using CostBits?
Instantly! Our platform delivers real-time insights so you can start making data-driven decisions right away.
Does CostBits require extensive implementation or training?
No, CostBits is an out-of-the-box solution that’s intuitive to use, minimizing setup time and training requirements.
Can your platform help us with sustainable supplier selection?
Yes, we guide you toward eco-friendly suppliers by showing CO2 equivalents, enabling more sustainable purchasing decisions.
How does your solution fit with our current procurement process?
CostBits integrates seamlessly, providing clear insights without disrupting your existing processes, enhancing efficiency and decision-making.
Do you offer personalized support for your clients?
Yes, we provide tailored support and honest advice, ensuring you get the most out of our platform.
How secure is the data we share on your platform?
Data security is a priority. We employ industry-standard encryption and security protocols to protect your sensitive information.
Can CostBits identify suppliers with high carbon footprints?
Yes, our platform analyzes your supplier data, highlighting those with higher CO2 equivalents to help you make informed, eco-friendly choices.
Does CostBits support global procurement operations?
Yes, we handle international suppliers, offering multi-currency support and global insights to simplify cross-border procurement.
How does CostBits enhance our team’s efficiency?
We handle data processing and provide actionable insights, allowing your team to focus on high-impact cost-saving activities.
Is there a free trial or demo available?
Yes, we offer a trial period so you can explore our platform's capabilities and see its value firsthand.
Can I track supplier performance over time?
Yes, our analytics enable you to monitor and compare supplier performance, assisting in informed, strategic decision-making.
Does CostBits integrate with ERP systems like Microsoft Business Central?
Yes, we offer seamless integration with major ERP systems, making data transfer and analysis more efficient.
How often is the data updated in CostBits?
We provide real-time data updates, ensuring that you always have the latest insights into your procurement spend.
What kind of cost insights can I expect?
Detailed breakdowns of supplier costs, category spending, potential cost-saving areas, and environmental impact insights are part of our core offering.
How customizable are the analytics dashboards?
While our dashboards are out-of-the-box, we actively co-develop new features with clients to ensure they meet real needs.
Can the platform handle different procurement categories?
Yes, CostBits covers a wide range of procurement categories, helping you analyze spend across various segments of your business.
Does CostBits provide recommendations for cost reductions?
Yes, we provide actionable guidance on where to focus your efforts to achieve the greatest cost reductions.
How does your platform support our ESG initiatives?
By converting costs into CO2 equivalents, we help you identify areas to reduce your environmental impact and support sustainable sourcing.
Can I set up user permissions for my team?
Yes, you can configure user permissions to ensure that team members access only the data relevant to their roles.
Is there a learning curve to using CostBits?
Not at all. CostBits is designed with an intuitive interface, ensuring a smooth user experience, even for first-time users.
Can we export reports from the platform?
Yes, our platform allows easy export of reports in various formats, facilitating data sharing and further analysis.
How does CostBits handle data accuracy?
We use automated data cleaning and enrichment processes to ensure your procurement data is accurate and actionable.
Can CostBits analyze indirect procurement costs?
Yes, we provide insights into both direct and indirect procurement, giving you a holistic view of your overall spend.
Does CostBits support multi-departmental procurement analysis?
Absolutely. Our tool breaks down costs by department, allowing for targeted analysis and strategic improvements.
Can the platform help identify maverick spending?
Yes, we highlight off-contract or unexpected expenses, helping you bring maverick spend under control for better cost management.
How does CostBits facilitate supplier negotiations?
With detailed cost breakdowns and spend analysis, we provide the data you need to negotiate better terms with suppliers confidently.