Spend Analysis
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Procurement professionals the world over are all asking for the answer to this question: “Who is buying what, from whom, how often, and for how much?” Spend analysis is the single most critical element of a comprehensive sourcing strategy. Thoroughly understanding your spend is the basis for identifying and implementing sourcing improvements and cost reductions.
Typical challenges associated with spend analysis include acquiring timely accurate data from multiple, disparate sources, cleansing that data of duplicates and inconsistencies, organizing the data into a selected taxonomy, loading the data into the selected tool or technology platform, and then performing meaningful analyses and generating understandable reports that will allow procurement and business managers to identify opportunities to rationalize the supply base, aggregate volumes, and reduce the total delivered costs of goods and services.
We will help you navigate the myriad of internal systems to compile a clear and concise picture of your company’s product and services spend. We will help you identify areas on which you should focus, develop plans for attacking wasteful spending, create and implement effective policies and procedures, and ensure that solid controls are in place for the long-term management of corporate spend.
To see specific examples with real clients, click on the articles and case studies referenced above. To find out about more solutions to help you achieve your goals, click on "Next Service Offering" below.
