Indirect Spend Series – Spend Analytics
The first stop in the “Journey of Indirect Spend” has to begin with analytics; analyzing your spend.
Modern cloud-based spend analysis solutions offer true savings for the enterprise-level business. This is because they allow every facet of your organization – procurement, accounts payable, finance, risk management, engineering, and human resources – to identify a slew of cost control and spend reduction opportunities, and generate value for the entire enterprise by allowing multiple departments to increase the amount of revenue that hits the bottom line. The numbers don't lie...
- 11% The amount an average company can save with a modern spend analysis system according to a recent Aberdeen Group research study
- 40% The amount of negotiated savings that are never realized due to rampant maverick spend
- 30% The amount an average organization with a large contingent labor spend can be overspending by