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The Five Best Practices in Spend Analysis Are Essential for Businesses to Remain Competitive, Says Spendedge

The Five Best Practices in Spend Analysis Are Essential for Businesses to Remain Competitive, Says Spendedge

LONDON--(BUSINESS WIRE)--Apr 28, 2018--SpendEdge, a global procurement intelligence advisory firm, has announced the completion of their most recent whitepaper on . Spend analysis is gaining popularity across industries owing to its ability to carry out a multifaceted review of an organization. It mainly focuses on cost reduction, operational changes, and enhancement of contractual negotiation to improve the organizations’ profitability. Additionally, spend analysis assists organizations in identifying essential opportunities to leverage buying power.

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Five Best Practices in Spend Analysis (Graphic: Business Wire)

In today’s competitive business scenario, spend analysis helps businesses reduce procurement costs, improve operational performance, and improve relationships with stakeholders. It also helps organizations in understanding and tracking their spend patterns to achieve maximum benefits in the long run.

According to the procurement experts at , “The fundamental objective of spend analytics is to create transparency in spend patterns by aggregating and reporting actual spend on several key dimensions.”

to see how SpendEdge’s procurement solutions can help you.

Best practices in spend analysis:

Audit existing spend management capabilities – It is essential for organizations to conduct a review of their spend management infrastructure and competencies to gain better visibility into spending patterns. Increase the frequency of spend analysis – The dynamic business environment and sales fluctuations make it a necessity to enhance spend analysis capabilities. Adopt automation – Automation helps organizations in developing a repeatable process. It also enhances their overall efficiency. To read more,

Download the complete whitepaper on the five best practices in spend analysis here:

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About SpendEdge

SpendEdge shares your passion for driving sourcing and procurement excellence. We are a preferred procurement market intelligence partner for Fortune 500 firms and other leading companies across numerous industries. Our strength lies in delivering robust, real-time procurement market intelligence that helps sourcing and procurement professionals make informed decisions. These innovative procurement solutions help enterprises transform structural capabilities, improve execution efficiency, and fast-track time to savings.

View source version on businesswire.com:https://www.businesswire.com/news/home/20180428005018/en/

CONTACT: SpendEdge

Anirban Choudhury

Marketing Consultant

US: +1 630 984 7340

hello@spendedge.com

KEYWORD:

INDUSTRY KEYWORD: PROFESSIONAL SERVICES OTHER PROFESSIONAL SERVICES

SOURCE: SpendEdge

Copyright Business Wire 2018.

PUB: 04/28/2018 05:15 PM/DISC: 04/28/2018 05:15 PM

http://www.businesswire.com/news/home/20180428005018/en


Updated : 2021-04-23 17:07 GMT+08:00