Spend Analysis as a Service Platform Recognized for Driving Significant Cost Reduction Initiative
 

6/25 – Source One’s Spend Analysis Tool Receives Industry Recognition

Supply and Demand Chain Executive Recognizes Source One's Spend Analysis and Opportunity Assessment Achievements

Empowering Procurement with Spend Analytics

 

June 25, 2018 (Willow Grove, PA) – Source One’s recent success supporting a mid-sized Food & Beverage Manufacturer has earned the technology-enabled Procurement consultancy a spot on Supply and Demand Chain Executive’s 2018 List of the Top 100 supply chain projects.

Announced annually, the SDCE 100 recognizes notable and innovative initiatives across a range of supply chain functions. 2018 marks the 11th year that Source One’s Spend Management experts have secured a spot on the prestigious list.

This year’s recognized cost reduction engagement leveraged Source One’s spend analysis as a service platform, SpendConsultant. The spend analysis tool provided the foundation for identifying cost reduction and overall procurement process improvement opportunities for the Food & Beverage client. The rapid, low-cost spend analysis tool quickly provided a detailed overview of the client’s spend patterns and areas for significant cost savings across a variety of indirect spend categories.

“We’re thrilled to be recognized by Supply and Demand Chain executive for this cost reduction initiative,” shares Brian Seipel, Source One’s Spend Analysis Practice Lead. “The Top 100 honor is representative of the unique solution Source One’s consultants and spend analysis tool offer companies looking to meet their savings targets. Possessing the data is just one piece of the puzzle when it comes to launching strategic sourcing projects and category management initiatives. We aim to bridge that gap by leveraging our category subject matter expertise to deliver actionable strategies from the spend data.”

SpendConsultant is the first tool of its kind as a fit-for-purpose spend analysis tool designed by Source One’s procurement professionals for procurement professionals. Its unique spend classification taxonomy and interface are optimized to serve Procurement’s goals.

Beyond delivering spend visibility and enabling cost reduction, Source One’s engagement with the Food and Beverage Manufacturer also culminated in a knowledge transfer that will serve the client well into the future. Thanks to SpendConsultant, the Food and Beverage client now has insights into their contracting, supplier management, and risk mitigation practices that should provide for more informed and strategic procurement initiatives.

As Source One continues to engage clients and collect historical spend, SpendConsultant grows all the more sophisticated and strategically valuable. The spend data analytics experts look forward to leveraging this evolving tool for many successful projects to come.

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