Spend Analysis Solutions Helps a Renowned Beverage Industry Company Analyze Spend and Provide Financial Intelligence
Lately, the buying preferences of the consumers across the globe are altering and are shifting toward better quality and healthy food and beverage options to maintain better health. Additionally, with the shift toward a customer-centric environment, leading manufacturers across the beverage industry space are looking for robust ways to stay in touch with the competition and penetrate across niche target segments. Spend analysis solutions help clients operating in the beverage industry space to identify potential opportunities for collaboration and savings, drive procurement enhancement and put meaningful intelligence and analysis to good use.
With years of proficiency in offering a wide array of spend analysis solution, SpendEdge helps clients operating in the beverage industry space to analyze the spends across the supply chain and provide financial intelligence.
The Procurement Pain Point and Insights Offered
A renowned beverage industry client with business units spread across various geographical locations was facing predicaments in identifying the collaborative purchasing opportunities for members. Additionally, the client was facing issues in better managing the non-pay spend and supporting contract negotiations to drive better prices. To overcome the predicaments the client, a leading player in the beverage industry space approached SpendEdge.
To cater to the beverage industry client’s business requirement and help them overcome their predicaments, SpendEdge tailored a comprehensive two-step research methodology. This research methodology included primary and secondary research coupled with qualitative and quantitative data collection procedures.
During the course of the spend analysis engagement, the beverage industry client was able to support all facets of collaborative purchasing activity and generating significant savings for all member organizations. Additionally, this detailed analysis helped the client gain valuable insights into ways to improve contract re-negotiations and supplier rationalization to generate significant savings through aggregated purchasing power.
Fundamental questions answered in this spend analysis study include
The beverage industry client gained access to improve management information and identify millions in immediate savings through rationalization of suppliers, renegotiation of contracts and in ensuring the use of the most competitively priced collaborative contracting.