LONDON--(BUSINESS WIRE)--SpendEdge, a global procurement intelligence advisory firm, has announced the release of their new ’spend analysis study on the banking sector’. A renowned banking sector client with business units spread across geographies wanted to standardize systems, processes, and data related to customers. They faced difficulties in analyzing their data as it was spread across various systems with no proper spend visibility. The client was also looking at developing a common shared-services platform to enhance the effectiveness of their business while reducing the overall costs.
According to procurement analysts at SpendEdge, “Leading businesses within the banking sector are facing persistent pressure to enhance their service offerings across niche market segments due to the fluctuating rules from governments across the globe.”
In the banking sector, leading firms are looking at leveraging the use of spend analysis solutions to gain actionable insights into their purchasing activities to align them with their business strategies. Our spend analysis solutions helped the banking sector client to reduce costs and strategically improve supplier relationships. It also assisted them in improving the procurement efficiency while lowering material spend.
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The spend analysis solutions offered by the experts at SpendEdge helped the banking sector client to analyze various spend reports and develop strategies based on the outcome. Additionally, the solutions provided also assisted the client to gain insights on the price trends and fluctuations for the services being rendered. Also, the client was able to identify savings to promote growth opportunities across their business units.
The spend analysis solutions offered benefits that helped the client to:
- Reduce procurement lead-time by automating all of their procurement activities
- Gain easy and quick access to relevant data within the banking industry
- To know more, view the complete spend analysis case study here: https://www.spendedge.com/casestudy/banking-sector-procurement-lead-times
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