Most thought leaders and analysts agree, effective spend analysis is the key to the castle of significant untapped savings. Building an effective business case, however, requires a suite-level approach that considers effective management of all spend management disciplines including sourcing, contract management, supplier management, and procurement.
For example, one of the primary drivers of a spend analysis program is to increase spend capture through better and more useful data/information and more efficient strategic sourcing processes. A suite approach offers the additional benefits of streamlined supplier identification and qualification, effective sourcing processes and tools, and efficiencies in the contracting process. Similar suite-level benefits exist when examing other components of the spend analysis value prop such as improved compliance, improved supplier performance, and improved sourcing effectiveness.
Based on a combination of analyst benchmarks the benefits of customers, Ariba is currently in the process of building and publishing a benefits calculator that takes into account both the stand-alone benefits as well as suite-level components of effective spend analysis.
If you would like a sneak preview of this tool, or would like to share your thoughts on the subject, please comment here or reach out to me directly at email@example.com.
Sr. Solutions Marketing Manager