A FASTER, SIMPLER WAY TO ACHIEVE SPEND VISIBILITY
Strategic sourcing teams from all over the world use our spend analytics software to provide detailed spend analytics for data insights. Sourcing Insights will change the way you analyze your spend and show you the way toward a strategic sourcing strategy that drives dollar to your bottom line.
Having a process in place to achieve spend visibility is the foundation of driving a long-term cost optimization strategy. Despite signiﬁcant efforts being made, research shows that an organization’s procurement function frequently lacks the type of high-quality sourcing data and spend analytics necessary to do its job the right way. We know that in the procurement world, credibility is everything. It is easier to define strategy and lead change when you have total confidence in your data.
Sourcing Insights is a full-service solution that combines procurement-focused consulting services with world class technology. This enables clear insight into your spend so you can confidently drive savings. Imagine a powerful spend analytics solution like this combined with decades of expertise – people who have experienced the challenges that you are today.
- INVENTORY CONTROL
- COST FLUCTUATIONS
- CONTRACT ADMINISTRATION
- RISK MITIGATION
- QUALITY & COMPLIANCE
- TECHNOLOGY INTEGRATIONS
YOU DON'T NEED MORE DATA, YOU NEED MORE INSIGHTS
Spend analysis is the practice of reviewing procurement spend to decrease costs, increase efficiency or improve supplier relationships. Procurement spend analytics is the process to collect, cleanse, classify and analyze spend data through our dedicated software, Sourcing Shark.
Spend analytics is one of the key tools that procurement organizations use to proactively identify savings opportunities, manage risks and optimize their organization’s buying power. It is often regarded as the fundamental foundation of sourcing. It is a tool that sourcing executives can utilize to engineer superior performance. Data from spend analysis can improve visibility into corporate spend, as well as drive performance improvement, contract compliance, and most importantly, cost savings.
Analyzing procurement spend provides data that can be used as a baseline to measure improvements, and to also provide reliable data for deciding strategies to realize short and long term savings. As procurement moves to a more strategic function in the company, spend analysis is its fundamental strategic technique which establishes a parallel process that guides senior leaders and budget holders in maximizing value for the organization’s dollar.