Spend Analysis

28 Jun

Posted at 04:32h in Global Sourcing, Procurement Best Practices, Purchase to Pay, Spend Analysis by
1 Like
Purchasing is a complex set of interconnected and dependent people, processes and technology. - market knowledge; benchmarking information; purchase to pay and accounting systems and processes and last but by no means least - data. Data - your procurement organization's Achilles heal.

18 Jan

Posted at 08:47h in e-Procurement, Spend Analysis, The Rest by
1 Like
A significant amount of effort - and money - is spent by procurement organisations on spend analysis. It's a complete no brainer.  Without understanding what you spend, how can you begin to manage it. Knowledge is power. What gets measured gets managed. All true of course but how do you actually derive commercial benefit from spend analysis. In other words - "show me the money!"

09 Jul

Posted at 11:16h in Procurement Best Practices, Purchase to Pay, Purchase to Pay Process, Spend Analysis, Vendor Risk Management by
1 Like

What gets measured gets managed. It's a slightly tired truism but it's very relevant to Purchase to Pay and, sadly, often overlooked. Most P2P (Purchase to Pay) projects are justified as a means to reduce cost. They introduce efficient processes that allows  purchasing payment and accounting...