LONDON--(BUSINESS WIRE)--SpendEdge, a leading provider of procurement market intelligence solutions, has announced the launch of their latest newsletter on the benefits of spend analysis solutions for businesses today. Spend analysis can help companies achieve cost effectiveness and boost process efficiency. It can also help reduce maverick purchasing and helps businesses identify opportunities that are specific to their category.
For over 15 years, SpendEdge’s solutions have helped numerous companies stay on top of their game by offering solutions to improve their procurement capabilities. The July-edition of this newsletter contains a storyboard series on how SpendEdge has helped companies from diverse categories realize their dream of smart procurement. It also highlights how understanding spend aggregation has helped companies optimize capital and reduce procurement spend.
Our research shows that, today, most companies have started turning to spend analysis to cut unnecessary costs by analyzing where their money is being spent. They are also leveraging such solutions to rationalize their supply base and identify areas of improvement. With the aid of such solutions, businesses can now benchmark performance and optimize their working capital. This newsletter, which is now available for free download, will help you understand the key benefits of spend analysis and why businesses from diverse categories are leveraging such solutions to stay a step ahead of their competitors.
Managing risks and identifying category-specific opportunities is not an easy task for companies. Request a free proposal to know how we can streamline your benchmarking and sourcing processes.
Spend Analysis: A Storyboard Series on Our Latest Engagement Outcomes
#1: Achieving savings of $35m for a microelectronics firm
A leading microelectronic company, which is based out of Germany, was facing difficulties in devising an actionable spend analysis plan. They wanted to analyze their expenditures, increase R&D investments, and run an RFP for new suppliers to identify suppliers who would be able to comply with regional regulations.
By leveraging SpendEdge’s spend analysis solution, they were able to categorize spend into different categories and negotiate best deals with suppliers. Our analysts helped them determine the exact amount spent on research and development activities, annually.
Get in touch with our procurement experts to know more about how we helped the microelectronic company select the best fit suppliers for their requirements.
#2: Transforming finance operations through spend analysis
The client, a leading medical devices company, was facing predicaments in monitoring changing supply chain priorities and managing spend effectively. They wanted to identify potential sourcing opportunities and better understand their spend data to boost ROIs.
SpendEdge’s spend analysis solution helped the client to evaluate the industry-specific spend data. The solution offered also helped the client to effectively price their products and strengthen their presence in the industry.
Performing spend analysis requires companies to consolidate and analyze the spend data. Request a free demo to access our procurement platform for 7 days, free of charge!
#3: Increasing transparency and commercializing revenue models
With the recent increase in the demand for automobile products from emerging economies, the client felt the need to identify new sourcing opportunities and reduce unaccounted spend. They wanted to improve their procurement capabilities and increase spend visibility to stay a step ahead of their peers in the automotive industry.
The solution offered helped them to improve organizational efficiency and minimize costs. This empowered the client to commercialize their businesses and revenue models to better connect with their customers. To read the complete article, click here.
To know more about the benefits of SpendEdge’s spend analysis solutions, get more info about our offerings here!
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.
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