Spend Analysis
Improve spend management by effectively identifying, gathering, cleansing, and evaluating spend data. Take informed decisions that will help in decreasing procurement costs.
Contact usHow your business benefits
Cut down maverick spend
- Spend analysis can help identify purchases from unapproved suppliers
- Such maverick spend results in compliance failure and cost increase as the purchase would not be based on negotiated prices
Offers spend transparency
- Gain transparency into organizational spend. This provides oversight of expenditure and reduces the likelihood of fraud
- Using this data, organizations can consolidate suppliers and implement cost-reduction strategies
Aids in supplier evaluation
- Transparency into the company’s spend helps to evaluate and compare suppliers
- Suppliers that have beneficial offerings can be rewarded with long-term or high-volume contracts, while poor performers can be eliminated
Helps in making informed decision
- Spend analysis aids companies to understand their spending pattern and make decisions based on their budget and priority
- Such data help companies develop initiatives that are effective in achieving goals
Why choose SpendEdge?
Realize cost savings
Our spend analysis will help you understand spending at a granular level. We also highlight spending patterns and potential savings across spend categories. Based on this data, companies can develop plans to cut costs, identify ways to consolidate suppliers and renegotiate contracts, and reduce unnecessary departmental spending.
Centralize your procurement process
Using our spend analysis service we can 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.
Make informed decision
We generate industry-specific insights that help our clients to make informed spend decisions. To generate such insights, we identify emerging trends, regulatory changes, and market dynamics. By analyzing spend data, you can make better sourcing and supplier decisions, as well as reduce cycle time and improve the bottom line by identifying savings through comprehensive visibility into all purchases.
Cost optimization
We identify cost-saving opportunities by analyzing spending patterns. To achieve this, we assess pricing structure and contracts which we benchmark against industry standards. Such analysis helps identify avenues to reduce cost without impacting the quality or service.
Featured Case Study
How SpendEdge Helped CPG Giant Streamline Contract Manufacturer Selection Process
Challenge: Faced with intense competition and the need to improve profit margins, our client turned to SpendEdge for assistance in overcoming their business challenges. One of the main strategies involved migrating cost-intensive operations to low-cost destinations.
Solution: Our team at SpendEdge assisted the client in streamlining their contract manufacturer selection process. Leveraging our expertise and market research methodology, we identified key contract manufacturers for the client’s ready-to-eat product line.
Result: The client successfully addressed their business challenges and achieved improved profit margins and reduced operating costs. All the while, also enhancing product quality and expanding manufacturing capabilities.
Talk to One of Our Experts
Minimizing expenditure is key to the success of any business, especially in this post-pandemic era. Contact us to identify maverick spend and other cost cutting measures.
Talk to Our ExpertsInsights
Category Intelligence
Gain insights related to your key spend categories, ranging from important updates, outlook, and engagement models, to in-depth supply-chain risk analysis.
Supplier Intelligence
Improve supplier selection decision making and supplier relationship management through our services covering supplier identification, supplier updates and alerts, and risk and sustainability analysis.
Strategy Support
Improve strategic decision making through our services related to negotiation advisory, best practices, risk mitigations, supplier KPIs and SLAs, and cost optimization mechanisms.
Category Cost and Pricing
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.