While many companies
recognize opportunities to reduce supplier costs, most don't have reporting
systems that provide visibility into spending patterns or details.
Without access to accurate, detailed spend data, organizations are
unable to effectively source quality products and services at the best
possible prices. Using Spend
Analysis technology and processes, organizations gain complete, clear
insight into their spending, breaking down the spend by supplier, category,
purchase order, and item, to the invoice level.
Our Spend Analysis service uses technologies to provide detailed
analysis of a client’s entire spend across desired locations and
divisions. We then develop a plan outlining forward-thinking cost savings
opportunities, including strategic sourcing initiatives, supply chain
process improvements, and other savings and cash flow opportunities.
Aberdeen Group's research recently uncovered a harsh truth: "few
enterprises know what they spend, on which products, or with which suppliers." (1)
As a result, supply managers and business executives end up with
strategies and decisions based on intuition rather than fact. All told,
Aberdeen estimates that the industry is losing $260B each year due to
a pervasive inability to organize and analyze spend data.