LONDON--(BUSINESS WIRE)--SpendEdge, a well-known procurement intelligence solutions provider, has announced the completion of their cost analysis study for an oil and gas industry client.
The client is one of the largest refiners and marketers of oil products in the U.S., with an annual revenue of $2.1 billion. With supply chain complexities skyrocketing, companies are facing challenges in delivering projects within a specified budget, the client realized the need to leverage a cost benefit analysis engagement to gauge the impact of each cost factor on the overall business growth. Additionally, by analyzing the market cost, the client wanted to better understand the demand for commodity prices and determine the price that the end-users were willing to pay for their products.
According to the experts at SpendEdge, “By following suitable cost analysis methods, organizations will be in a healthier position to avoid potential biases that lead to faulty business decisions.”
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With the help of SpendEdge's cost benefit analysis, the client was able to list out the positives and negatives of their investment. During the course of the cost analysis engagement, the oil and gas industry company was able to identify the technology trends and innovations shaping the market’s landscape and gain more relevant insights into the buyers’ behaviors. The cost analysis report also helped them to analyze different scenarios while making accurate investment decisions. Moreover, the cost analysis solutions also helped them make minor tweaks in their investment plan to drive maximum savings and improved business efficiency.
To know more about the complete scope of this engagement and the real benefits of cost analysis solutions for businesses, request a free proposal
SpendEdge’s cost analysis engagement helped the client to:
- Determine and gauge current costs and major cost components
- Identify key cost factors and their impact
- To know more about the cost management strategies followed by different firms, Talk to an analyst
The cost analysis engagement also offered predictive insights on:
- Reviewing historical cost trends and the evolution of the key cost drivers
- Analyzing relevant data to determine future cost trends
- Read the complete article to know more: https://www.spendedge.com/casestudy/oil-gas-industry-cost-analysis
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