Spend Analysis and Opportunity Assessment Services
Source One provides spend analysis services and can create an actionable savings opportunity assessment for your organization. We help cleanse data, understand your historic purchase history, aggregate suppliers, classify spend and will create a strategic sourcing roadmap that will lead to greater savings and easier to manage spend categories.
Successful Strategic Sourcing and Cost Reduction Initiatives rely heavily on having good accurate data and information. Conducting a reliable spend analysis and opportunity assessment that is based on current cleansed data is a critical first step in developing your strategic sourcing roadmap.
However, most businesses don’t have easy access to useful data; or their data is filled with redundancies, typos, non-standard naming conventions and errors. Growing companies, particularly those who have gone through mergers or acquisitions, have an even more complicated task of merging datasets from a variety of systems; often with no standardized structure or naming conventions. Source One is very familiar with these challenges and has developed a variety of processes and tools to help our clients manage their data and develop a spend analysis and opportunity assessment for strategic sourcing.
Source One breaks down the spend analysis process into a few logical steps. We can help any organization with any portion of the spend analysis process lifecycle, or can complete the full process through to a Strategic Sourcing Opportunity Assessment Report.
Our spend analysis services can be delivered on a rapid schedule without compromising data integrity or classification. We are able to do this because, simply put, no one has conducted as many sourcing projects with as many suppliers as we have; for as long as we have. Source One has been conducting sourcing events and cataloging suppliers, contracts and category classification since 1992.
Source One’s spend analysis service and strategic sourcing opportunity assessments can provide clients with:
- A visual view into aggregated spends by commodity, supplier and category
- Current contract costs, terms, and conditions.
- Where savings leak, procurement overlaps, or pricing is non-standardized
- Product specifications 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
- Recommendations for operational changes to improve short and long-term profitability.
- Insight into your spending profile versus that of your peers
- Estimated savings potentials on a per category basis
If you are looking to get an affordable clear view into your company’s spend without having to pay for pricey software or dedicated internal resource, then Source One’s Spend Analysis Services and Opportunity Assessment Services are right for you. We offer one-time spend analysis assessments, a la carte access to any piece of our services, or can refresh your spend profile and sourcing roadmap on an ongoing basis. Contact Source One today about our Spend Analysis Services.