Spend Analysis
Most companies have multiple enterprise transaction systems and lack the tools and processes to properly aggregate, cleanse, normalize and monitor their spend with multiple vendors at the line item level. This problem is particularly severe in the case of indirect goods and services, which typically bring a broader set of suppliers and considerably more transactions. Without having access to accurate, detailed spend data, organizations are unable to effectively source quality products and services at the best possible prices. Global eProcure offers a solution that helps clients attain full visibility into their spend, better understand where savings opportunities exist, and how to best achieve the savings.
Global eProcure's Solution
Global eProcure's spend analysis solution provides spend visibility at the line item level in real-time. Our spend analysis offering combines our commodity expertise with automated technology and provides a comprehensive view of your organization's spend. This "bottom-up" approach includes: 1) Collecting comprehensive spend data from disparate sources 2) Cleansing reconciling, and aggregating the data 3) Classifying the data into sourceable categories using the UNSPSC or client taxonomy 4) Reporting the analysis and findings to the decision makers within your organization.
With our solution, organizations have the ability to:
See accurate spend information at the aggregate and line item level to influence time-sensitive decisions,
Perform spend analysis without lengthy initiatives pulling resources away from other tasks,
Obtain visibility into how much money is spent with whom, for what, and how frequently,
Rationalize and standardize products and services,
Identify high performance suppliers and consolidate business to these high performance suppliers,
Monitor vendor compliance with contracted pricing and identify spend leakage,
Consolidate spend across various business units to increase leverage in supplier negotiations,
Identify and reduce maverick spend,
Identify product and service categories with the greatest savings potential, and
Understand key price trends and variances.
Global eProcure can accept data from any file type, i.e., Text, MS Excel, XML, etc. Our consultants upload, cleanse, classify, and analyze the data through Global eProcure's spend analysis tool. Reports such as spend by business unit, geography, category, vendor, UNSPSC code, price variance, etc. are available through the tool. A detailed opportunity assessment is also performed to provide insights to clients on where and how to achieve cost savings across their entire spend. Since the spend analysis tool is closely integrated with other modules, the spend data can be transferred to Global eProcure's eSourcing tool for those customers interested in pursuing a sourcing program.
Global eProcure’s blended model of consulting, technology, and procurement outsourcing provides us with an unmatched understanding and control of the whole process when working on a client engagement. It also provides our clients with greater overall success in their cost reduction efforts when all aspects of the program are tightly integrated.
For more information, please email us at info@globaleprocure.com or request our services here
