LONDON--(BUSINESS WIRE)--SpendEdge, a global procurement intelligence advisory firm, has announced the release of their new ’spend analysis study on the IT industry’. A leading player in the IT industry with an international presence was looking at devising effective ways to manage their organizational spend and identify critical saving opportunities. Additionally, the client wanted to gain detailed insights into the spending patterns of the organization. The IT firm also wanted to implement ways to keep track of the fluctuating commodity prices.
According to the procurement analysts at SpendEdge, “Spend analysis solutions help organizations analyze their historical spend data to provide answers to questions concerning compliance, control, and spend visibility.”
In the IT industry, several leading organizations are increasingly implementing spend analysis solutions to identify and reduce their maverick spend. The spend analysis solutions offered by the experts at SpendEdge includes detailed analysis, information, tools, and overall guidance on improving efficiency and strengthening cash flows across the entire organization. Moreover, it also helps firms identify and prioritize saving opportunities.
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Our spend analysis solutions helped the IT client in identifying the potential bottlenecks in terms of purchasing overlaps and savings leak to make accurate and confident decisions. Leveraging the use of spend analysis solutions also assisted the client in gaining actionable insights on the latest price trends and fluctuations for the services rendered. This, in turn, helped them improve their savings opportunities by 20%.
Spend analysis solutions offered benefits that helped the client to:
- Devise a short-term and medium-term spend strategy
- Develop robust sourcing, budgeting, and product strategies
To know more, read the detailed spend analysis case study here: https://www.spendedge.com/casestudy/spend-analysis-it-companies
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