Over the past few years, the IT services industry has a disruption in their growth due to the relentless growth in technology. Moreover, the customers in the present-day scenario are well informed and have become more empowered, which has affected their behavior patterns while purchasing IT services and products. This has resulted in IT services firms offering better services and products while being cost-effective. In IT services industry space, spend analysis solutions help companies identify opportunities and deliver insights into the spend data to generate better ROI. These solutions also address concerns about the maverick spends and help manage supplier relationship efficiently.
To gain better visibility into the spending patterns, an IT services industry player approached SpendEdge. With years of expertise in offering a plethora of spend analysis solutions, Spend Edge helps firms in this industry make better and informed buying decisions.
The Procurement Pain Point and Insights Offered
A global IT services industry player was facing predicaments in assessing the key areas of spend and identifying the source of their maverick spends across the supply chain. They also wanted to gain insights into ways to reduce additional procurement costs and improve process efficiencies. Additionally, with the help of a robust spend analysis solution, the client wanted to make better-informed supplier and sourcing decisions.
The spend analysis specialists at SpendEdge tailored an integrated research methodology including qualitative and quantitative data collection methodologies to cater to the specific business requirement of the client.
During the course of this spend analysis engagement, the IT services industry client was able to scale up their operational efficiency which helped them reduce maverick spend and improve saving across the supply chain. The engagement also assisted the client to improve compliance and minimize sourcing and procurement cycle times.
Fundamental questions answered in this spend analysis study include
This spend analysis engagement helped the IT services provider identify the areas for process improvement and cost reduction. The client also gained real-time insights into the firm’s procurement activities and expenditures. This helped them provide services at lower costs when compared to the competitors in the industry.