This whitepaper assumes that the reader is already familiar with the basics of spend analysis. It is designed to help the reader understand the quantifiable benefits of spend analysis and to help anyone trying to build a business case for implementing a spend analysis solution. The benchmarks and metrics that the whitepaper cites are quite interesting, for example:
- Spend under management improved to 62% from 46% for organizations that implemented spend analysis solutions and that "by improving spend under management, enterprises are able to...ultimately deliver an incremental increase in cost savings."
- The average savings from strategic sourcing efforts credited to spend analysis initiatives nearly doubled.
- "Spend analysis reporting can be leveraged by procurement professionals to identify purchases made with suppliers not contracted, leading to corrective action and subsequent modification of behavior...The average incremental increase in contract compliance was 34% (or from 44% to 59%)."
In general, the whitepaper does a great job of not so much saying that spend analysis is a silver bullet for success, but by demonstrating why it is an important component of a procurement performance improvement strategy.
You can obtain your own copy of this whitepaper via Iasta's Web site.
To Your Career,
Charles Dominick, SPSM
President & Chief Procurement Officer
Next Level Purchasing, Inc.
Struggling To Have A Rewarding Purchasing Career?
Earn Your SPSM® Certification Online At