Spend Management

A platform which helps to understand organisations procurement buying and spending patterns. Useful to know the spend buckets, their distribution over time, and across partners.

Need

Need

In today’s highly competitive and volatile market scenario, procurement executive are now under significant pressure to deliver more cost savings, accelerate procurement cycle, source and manage strategic suppliers relationships, mitigate suppliers risks. Faced with these ever-present challenges, sourcing professionals must continue to seek innovative Spend Management solutions that will enable their companies to spend smarter and save more, delivering rapid ROI and bottom-line impact. There is a need of simple to use platforms to manage and control all spends management data and tools that are easy-to-adopt, hence providing procurement executives with means to spend smarter and save the company money.

Approach

Approach

We provide Spend Analysis as a service to our customers. We have taken a fundamentally different approach in the development of our spend management service. We provide accurate and a complete Spend Analysis which helps organisations to understand their buying practices and spending patterns. Spend Analysis solution provides our clients with a clear view into how much is spent on goods and services, with whom, and where etc. we help our clients in employing sound spend management strategies to reduce your costs and improve financial performance. Our professionals constantly keep an update on new saving opportunities or the new methods in which savings can be made. We offer service such as recognising customers’ spending patterns which helps them in accelerating purchasing efficiency, forecasting & budgeting, reduction in maverick spending etc. These information are sourced from the company’s spend profile derived from physical invoices, transaction systems and from legacy systems, database and classify it according to company and industry requirements. Based on the analysis, we assist our clients by providing them measurable data to identify trends, help in developing a strategy for improvement and creating a corrective action plan and improve the process. Our statistical experts mine the spend data, evaluate and analyse with company personnel to develop a strategy for improvement, to take advantage of opportunities, or to create a corrective action plan.

Benefits

Benefits

It is a challenge for the companies to analyse data which often rests in dozens of different systems, or the way in which it has been categorized and stored. In these situations our platforms helps

  • Our Spend Analysis expertise can help a department or organization determine major spend categories and identify areas for improvement.
  • Our Statistical experts mine the spend data, evaluate and analyse with company personnel to develop a strategy for improvement, to take advantage of opportunities, or to create a corrective action plan.
  • To quickly consolidate the data obtained, streamline, and analyse the trend
  • To create visibility and provide appropriate solution, corrective measures and opportunity assessment
  • Our SaaS based engagement model helps you to save on total cost of ownership, which companies instead does not have to invest in software, hardware and upgradation