Over recent years, there have been various industry developments that served as or caused trends in procurement. These procurement trends include technology changes, novel strategic approaches, new processes, and necessary adaptations to change. As supply chains become increasingly complex, procurement has become highly crucial and influential in the production process and continues to grow.
Spend management solutions by SpendEdge can assist category managers to realize the most efficient spend analysis procurement opportunities.
SpendEdge can help visualize your organization’s spend management, so that your wealth of transactional spend data is effectively identified, gathered, cleansed, and evaluated in order to decrease procurement costs and increase efficiencies in spend analysis procurement. By analyzing spend data, your organization will be able to make better sourcing and supplier decisions, as well as reduce cycle times and improve the bottom line by identifying savings through comprehensive visibility into all purchases. Further, spend analysis will assist in centralizing the procurement process and ensuring that spending proceeds on time and within budgets across the organization. Our team can help your organization proactively evaluate and forecast corporate spend management quarter-to-quarter or year-to-year, prioritizing business necessities and avoiding unnecessary purchases.
Our on-demand team of experts can help your organization:
- Consolidate, cleanse, and evaluate your spend management to help visualize analytics and identify savings opportunities
- Gain transparency into corporate spend quarter-to-quarter and year-to-year
- Monitor performance and enable better sourcing and supplier decisions
- Prepare reports for stakeholders to assist with organizational spend for future strategic projects
- Identify quick wins for cost savings, supplier consolidation, regional spend consolidation, eliminating maverick spend, etc.
- Utilize our benchmarking capabilities to do a gap analysis against practices of best-in-class players
- Develop a long-term implementation plan to facilitate efficiencies and savings across business units and products
SpendEdge is a full-service procurement market intelligence advisory firm with 17 years of experience and presence across the globe. Our team of 550+ analysts has helped teams perform spend analysis procurement in order to develop strategic approaches that result in profitable execution. Our comprehensive insights empower your procurement experts to deliver results in alignment with corporate objectives and KPIs, as well as to better understand leading-edge industry and technology trends. SpendEdge’s procurement intelligence solutions provide actionable insights to enable your organization to adopt a proactive approach to spend management.
Connect with one of our industry experts today to discuss your specific needs and gain a better understanding of the services provided by SpendEdge.
Typical Coverage Areas and Key Questions Answered
Typical Coverage Areas
- Spend data cleaning
- Category classification using standard taxonomy
- Vendor normalization
- Spend pattern analysis
- Category and supplier pattern analysis
- Demand aggregation
- Business case and procurement roMerck Groupap development.
- Contract negotiation with current suppliers
- Assess and select supplier
- Supplier contract reviews
- Supplier Negotiation
- Development of Recommendations on:
- Realized cost savings from purchases
- Supplier base consolidation
- Process Efficiency Improvement
Key Questions Answered
- What is the current state of spend management?
- What could be a good short/medium term spend strategy?
- Is there a possibility of improving savings?
- How to improve process efficiency?
- Are the contracting practices at par with industry standards?
- Should we consider running an RFP for new vendors? How much would it cost?
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