Rosslyn Analytics as launched a new cloud service designed to speed up the extraction of corporate spend data across the enterprise.

The company said that RAPid offered a platform that can unify data quality, data integration and data management into one fully integrated service allowing IT managers to efficiently deliver spend visibility to the business within 20-30 business days, far more quickly than is usually possible, claimed the company. RAPid is also system agnostic and has been designed to work with a range of products.

While ERP provides enterprises with large amounts of data, it's not always easy getting the information that is required. "IT managers generally struggle to extract spend data because of size, complexity, accessibility and understanding of their spend data at a low level within their ERP systems. Extracting spend data is not as easy as most companies say it is, especially when other data sources need to be integrated into one trusted source of all organisational spend data – at a granular level, said a Rosslyn spokesman.

He said that the Rosslyn tool offered an advantage to enterprises because it extracted only the relevant information and not extraneous data. "We not only extract the data, but it is pre-packaged and ready to be used by IT after it's been processed in our RA.Pid platform. IT departments don't specialise in this as they are focused more on managing technology than turning the data into information," said the Rosslyn spokesman.

ERP vendors cannot do this, he added. "And Very few in-house teams do spend analysis. Full stop. ERP vendors have been slow to enter the spend analysis space as they have focused on other services; and have lost the first mover status."

By offering RAPid as a cloud product, Rosslyn is able to offer a more flexible approach to accessing this corporate data.

Bob Tarzey, analyst and director at Quocirca said that the Rosslyn on-demand service solved a number of problems facing enterprises. "The key to finding savings is locked away in a series of databases that underlie a baffling array of procurement, accounting and ERP applications. Rosslyn Analytics has developed a compelling on-demand spend analytics service that addresses the pain."