In today’s economy, CPOs are feeling the pressure to act as heroes for bottom-line results. With revenues decreasing over the recessionary period, organizations have looked to procurement to save the day through increased savings targets to be achieved with fewer resources.
To reach these ever-increasing (and increasingly important) savings goals, many in the procurement function have looked to technology in order to improve efficiency and effectiveness. eSourcing solutions offer tools that allow companies to source more effectively, manage more spend strategically, and build more optimal relationships with suppliers. But, how do you decide what to source? This is the role of spend analysis programs.