Procurement technology firm Xeeva has announced a new patent pertaining to enhanced spend analytics, the company said in a recent press release.

Madison Heights-based Xeeva Inc. is scaling up after a $40 million funding round, aiming to add 40 employees with a majority of the new hires planned for its headquarters.

Last month, we examined the current constraints on procurement today and discovered that data spend quality is an issue that’s holding organizations back. Digging in further, we found that spend classification is a big factor affecting organizations’ abilities to get high-quality data. The reality is you don’t know what you’re actually spending in each category.