Leveraging Spend Analysis Solutions Can Help Companies to Reduce Procurement Spend and Manage Risks - SpendEdge

Leveraging Spend Analysis Solutions Can Help Companies to Reduce Procurement Spend and Manage Risks – SpendEdge

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LONDON–(BUSINESS WIRE)–SpendEdge, a well-known procurement intelligence solution provider, has
announced the completion of their latest spend
management study for an asset management company.
The
report provides a comprehensive overview of how companies can maximize
their savings by enhancing their spend management skills. It also
highlights how developing a better understanding of spend aggregation
across categories can help businesses benchmark their contract terms
against the best-in-class practices.

With the rising competition, it is becoming crucial for asset management
companies to focus on spend
analysis
and develop basic spend management skills. There is a
pressing need to alter their contract terms against the best-in-class
practices to maximize overall savings and minimize maverick purchasing.
Moreover, they are compelled to rationalize their supplier base,
determine price arbitrages, and effectively manage risks to overcome
traditional roadblocks and improve their sourcing strategies.

According to the procurement experts at SpendEdge, “Companies
must leverage effective spend analysis solutions to minimize
maverick purchasing, identify price arbitrages, and maximize their
savings.”

The Business Problem: The
client is a Fortune 500 asset management company that is well-known for
managing mutual funds, pension plans, and other similar services. With
the rise in business opportunities, they felt the need to collaborate
with procurement and spend management firm that can help them understand
more about their spend patterns in terms of suppliers, categories, and
others. Also, they wanted to gain full visibility into their processes
and analyze the benefits of spend analysis.

Want to gain a better understanding of your organization’s spend
patterns in terms of suppliers and categories?
Talk
to our experts
and leverage our portfolio of spend
analysis solutions.

The Solution Offered: The
solutions offered by the experts at SpendEdge, helped the client to
identify improvement opportunities in contracts. They also obtained
detailed insights to analyze the benefits of spend analysis and
prioritize value generation opportunities. Furthermore, spend analysis
experts constantly tracked indirect and direct spend categories and
ensured better spend monitoring for the asset management company.
Implementation of such spend management strategies strengthened the
client’ relationship with suppliers and reduced procurement spend.

Interested in reducing procurement spend for your organization? Request
a free proposal
to know how our experts can help you
track indirect and direct spend categories to reduce procurement spend.

SpendEdge’s spend management strategy helped
the client to:

  • Formulate a robust spend management process.
  • Decrease procurement spend by improving strategic sourcing process.
  • Still wondering how to improve spend management process? Request
    a free demo
    and let our spend analysis experts guide you.

SpendEdge’s spend management strategy also
offered predictive insights on:

About SpendEdge:

SpendEdge
shares your passion for driving sourcing and procurement excellence. We
are the preferred procurement market intelligence partner for 120+
Fortune 500 firms and other leading companies across numerous
industries. Our strength lies in delivering robust, real-time
procurement market intelligence reports and solutions. Request free
proposal to know more,
https://www.spendedge.com/request-free-proposal

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