LONDON--(BUSINESS WIRE)--SpendEdge, a leading provider of procurement market intelligence solutions, has announced the completion of their latest success story on reducing off-contract spend and recognizing savings of $27 million for a telecom company by leveraging tail spend management services.
The company wanted to reduce their transaction costs to achieve significant savings. The key objectives they aimed to achieve through this engagement are mentioned below:
- Objective 1: The company wanted to increase spend under management and improve spend visibility to minimize supply exposure.
- Objective 2: They also wanted to reduce high-off contract spend to effectively manage their spend and standardize processes.
- Wondering how improving tail spend management process can help companies to uncover cost-saving opportunities? Request a proposal to access our customized tail spend management solutions for free.
“Telecom companies in the US must analyze the efficiency of their tail spend management process to reduce financial overhead, continue offering complex operational support services, and address decreasing profit margins,” says Srinivas R, Procurement Manager at SpendEdge.
Want to improve the tail spend management process and reduce costs? Get in touch with our experts today!
Key findings and solutions offered
In collaboration with SpendEdge, the client – a leading telecom company in the US – moved non-contracted items to contract and gained additional volume discounts from contracted suppliers. The solution offered helped them to:
- Improve the efficiency of the procurement process and reduce costs by 15%.
- Reduce spend leakages and achieve savings of $27 million in the tail spend.
- Developing effective strategies is crucial for companies to reduce off-contract spend. Request a free demo to access our web-based procurement platform for actionable insights.
Outcome: SpendEdge’s tail spend management services helped the telecom company to get accurate data to perform spend analysis and identify cost-saving opportunities. This helped the client to implement category commodity-specific sourcing levers for over 30 projects. The strategies developed by the experts at SpendEdge also helped the client to increase contract coverage on high-end suppliers, consolidate the number of suppliers, better negotiate contract prices, and achieve savings of $27 million in their tail spend.
To gain detailed insights into tail spend management services offered by our experts to the telecom company, request more information.
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