Our risk management solutions help save time and money. We offer customized solutions to resolve challenges, monitor regulatory changes, and have a vast supplier database. These initiatives help companies to cut costs associated with implementing countermeasures.
Brand reputation is vital in determining the success of a company. Any negative impact on the reputation can lead to business failure, even if the company has the resources and money for successful functioning. We identify potential risks that can hamper brand image and offer solutions that will build stakeholder confidence.
Problems are unavoidable. However, when a company faces issues such as labor or raw material shortage, it adds to the overhead cost incurred. Our experts can help businesses identify such risks and offer mitigation strategies. This, in turn, will help keep costs in check.
With the rise in globalization, there are constant changes in tax rebates and regulatory requirements, which can threaten business. Keeping a tab on these, though vital, is often difficult due to the lack of local expertise. We offer periodic updates on such changes, which helps reduce non-conformance and thereby cut costs.
Challenge: A prominent biomedical engineering firm struggled to develop an accurate cost model for effective supplier negotiations and to evaluate outsourcing versus in-house production capabilities.
Solution: SpendEdge conducted comprehensive market research and cost model analysis, identifying key cost drivers and comparing outsourcing options with in-house capabilities to inform strategic decision-making.
Result: The client successfully reduced production expenses through strategic sourcing and maintained in-house operations for critical processes, enhancing operational efficiency and fostering stronger business relationships.
Read more Know about SpendEdge ProcurementAvoiding risks completely is impossible; however, averting fatal risks is key to the success of a company. Since there are too many types of risk, getting an expert to help is always advised.
Talk to Our Experts
Gain insights related to your key spend categories, ranging from important updates, outlook, and engagement models, to in-depth supply-chain risk analysis.
Improve supplier selection decision making and supplier relationship management through our services covering supplier identification, supplier updates and alerts, and risk and sustainability analysis.
Improve strategic decision making through our services related to negotiation advisory, best practices, risk mitigations, supplier KPIs and SLAs, and cost optimization mechanisms.
Keep a close look at price movements and forecasts for key commodities and the impact of different cost drivers to formulate effective cost reduction strategies.