Spend Management Experts Simplify the Spend Analysis Process with New Platform
Willow Grove, PA (October 4, 2016) – Cutting edge spend management consulting firm, Source One Management Services, LLC further enhances its spend analysis services with the launch of a new client-facing web platform: SpendConsultant.com. A modernized version of the traditional spend analysis process, SpendConsultant.com combines spend management expert-led data cleansing, standardization, classification, and analysis, with the data visualization power of top spend analysis software applications.
Source One’s spend analysis service and online tool, SpendConsultant.com, helps clients gain clear insight into their spend patterns and history while removing the unnecessary challenges of traditional approaches to spend analysis software implementations. Leveraging decades of supplier intelligence gained through thousands of benchmarking and strategic sourcing events, SpendConsultant.com simplifies the cost reduction process, making it easy for companies identify savings opportunities and drive further value from their supply chain operations.
Kicking off the spend analysis process, Source One’s spend management consultants collect data from several sources, including the client’s General Ledger, Accounts Payable, invoices, and purchase orders. The data is then expertly cleansed and classified via a proprietary taxonomy designed specifically for procurement professionals and homing in on strategic sourcing opportunities. Source One’s spend analysis service eliminates the headache of extensive system integrations, providing an easy-to-navigate user interface for procurement professionals to drill into their spend profile- without having to wrangle up Finance and IT department stakeholders.
“Developing Source One’s Spend Analysis as a Service web platform was a welcomed challenge. Much of my time was spent on cataloguing 25 years worth of strategic sourcing engagements including pricing, savings results, and suppliers so that the product we delivered to our clients wasn’t a hodge podge of data.” explained Source One’s Senior Data Scientist James Patounas “Spend Consultant doesn’t just regurgitate data and leave it to our clients to figure out what to do next. Our spend analysis provides the necessary context to derive meaningful strategies for improving processes and reducing costs.”
Source One’s SpendConsultant.com is a fast and low-cost solution for organizations looking to easily make sense of and visualize spend data. The service is offered at no additional cost for clients who engage Source One for major strategic sourcing projects. Clients of SpendConsultant.com can also take advantage of Source One’s Opportunity Assessment Service, which leverages the consultancy’s vast market intelligence and category expertise to deliver a cost reduction roadmap, outlining executable strategies for budget optimization. Combined, Source One’s spend analysis and opportunity assessment services are the ideal starting block for companies looking to drive more value from their budgets while still keeping stakeholders engaged and satisfied.
Contact our spend management experts today to learn more about Source One’s Spend Analysis and Opportunity Assessment Services.