Spend Analysis Consulting And Procurement Spend Aggregation Services
Having a clean and reliable spend analysis greatly impacts the results you can achieve from your strategic sourcing initiative.
The first step in strategic sourcing and spend reduction is the identification of the categories that have the greatest potential. Spend Analysis is the starting point in identifying the savings opportunities in your corporate procurement processes.
However, a quality Spend Analysis goes beyond identifying the highest level category spend. A proper spend analysis will consolidate, clean and classify spend data across multiple departments, systems and locations.
Source One’s spend analysis and strategic sourcing service provide clients with:
- Aggregated spends by commodity, supplier and category,
- Current contract costs, terms, and conditions.
- Product Specification including quality, availability and service requirements,
- Understanding of all fixed and variable cost drivers for total cost of ownership,
- Recommended strategic sourcing strategies for cost reduction and operational changes to improve short and long-term profitability.
“Analysts estimate that an effective, ongoing spend analysis program can produce net savings of 7 to 10 percent in the cost of goods sold, with additional savings elsewhere.”
…… Supply and Demand Chain Executive
Download a Sample Spend Analysis Report