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Spend Analysis: Optimizing Your Sourcing Process
Sponsored By Bristlecone
- Topics:
- Finance & Risk Management > Expense Management
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- Abstract:
-
Every procurement executive has a mandate in place to cut costs, while still securing products and services of the best quality for their operations. Whether savings come from direct spending or indirect spending, each dollar saved goes towards their company’s bottom line.
To ensure that they are able to consistently accomplish these objectives, procurement executives at innovative companies are embarking on a key initiative — spend analysis. A well-executed spend analysis initiative can save a company millions, by saving, on average, 2%-7% of their spend. For a typical manufacturer to show a similar gross margin increase would equate to about a 15% increase in revenue.
In this whitepaper, we discuss the fundamentals of a good spend analysis initiative, potential return on investment, and a major obstacle to address in order to achieve success.
- DETAILS
- Sponsored by: Bristlecone
- Posted: September 25, 2008
- Length: 10 pages
- Format: PDF (264 kb)
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