LONDON--(BUSINESS WIRE)--SpendEdge, a well-known procurement intelligence solution provider, has announced the completion of their latest spend management study for a telecom services provider. The study highlights the impact of inefficient spend management for businesses and indicates the possible benefits that companies can reap through spend management solutions.
Lack of control over unmanaged spend and spend data visibility has become a major challenge for companies in the telecom industry. Employing manual processes and legacy systems to execute routine transactions slows down processes and further increases complexities for companies. Moreover, ineffective spend management in large global enterprises with hundreds of categories results in decreased spend visibility, higher transaction costs, poor spend compliance, and longer cycle times. Companies without effective strategies usually end up without any tangible spend data and financial benefits. This has created the need for companies to build and maintain a robust spend management system.
According to the procurement experts at SpendEdge, “Companies possessing a huge amount of consumer data must leverage spend management solutions to gain numerous strategic, operational, and financial benefits."
The Business Problem: The client is a leading company in the telecom industry and is recognized for providing robust communication and broadband services. However, due to inefficient spend management capabilities and lack of visibility in processes, they were unable to analyze spend patterns in terms of suppliers and categories. This was not only hindering their business efficiency but also increasing their unmanaged spend. They also realized that they need to enhance their knowledge of the scale of spend and diversity within their organization to understand key spend areas and develop an accurate spend management system. The inability to measure indirect spend categories forced the telecom provider to leverage SpendEdge's expertise to monitor and measure their indirect purchasing performance.
Many companies are turning to spend management to reduce costs, mitigate risks, and increase profitability for their businesses. Talk to our experts and know how our spend management solutions can improve the efficacy of your organization.
The Solution Offered: Experts at SpendEdge developed a strategic approach to help the client devise an effective spend management system and make future procurement decisions. The spend management solutions addressed every spend category within the organization and enabled the client to drive momentous value and gain an integrated view of all spend categories. The engagement also standardized the gathered spend data and formulated effective solutions to eliminate duplication of spend data. Such measures facilitated the client with greater scrutiny of suppliers and their contracts and increased spend visibility for the telecom apart from simplifying their cross-functional collaboration.
Are you unable to process the huge amount of spend data prior to analysis? Request a free proposal to know our spend management solutions can eliminate duplication of spend data by standardizing and tracking the source of it.
SpendEdge’s spend management solutions helped the client to:
- Increase spend visibility and accountability.
- Access spend information across all business categories.
- Want to have effective spend management that can offer innumerable business benefits? Request a free demo now!
SpendEdge’s spend management solutions also offered predictive insights on:
- Monitoring and measuring their indirect purchasing performance.
- Gaining an integrated view of all spend categories by identifying payments and invoices from all sources.
- Read the complete article to know more: https://www.spendedge.com/casestudy/spend-management-telecom
About SpendEdge:
SpendEdge shares your passion for driving sourcing and procurement excellence. We are the preferred procurement market intelligence partner for 120+ Fortune 500 firms and other leading companies across numerous industries. Our strength lies in delivering robust, real-time procurement market intelligence reports and solutions. To know more, https://www.spendedge.com/request-free-proposal
