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| Spend Processing and Analysis |
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Supplier rationalization is the process of concentrating purchases with a small set of suppliers in order to obtain greater leverage in negotiating purchase prices. It requires the company to analyze its spend for each supplier for various categories across business units to identify supplier consolidation opportunities. However, most companies are challenged to get such clear visibility into their direct and indirect spend.
According to Hackett Group, an industry benchmarking and advisory firm, only 40 percent of all companies have the sophisticated reporting tools in place to enable them to do spending analysis, and only half of these companies have the ability to view spending data by supplier on a global or enterprise basis. Spend analysis is a challenge mainly due to the number of source transactional systems, the amount of data involved, and the lack of standards. Collecting supplier data can also be challenging. Even once supplier data has been consolidated, cleansing and categorizing it often proves time–consuming and costly. While world–class companies do better in all of these areas than their peers, significant room for improvement still exists for all companies.
Ketera delivers the first cost–effective, on demand spend analysis application for direct and indirect goods and services. It provides complete, clear insight into a company′s spending–breaking down spending by supplier and category, analyzing spending behavior across the organization, and identifying new opportunities for savings. Using this capability, customers can make the most optimal supplier rationalization decisions. |
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| To learn how Ketera Spend Management Solutions can help your business, call 1–877–486–4340 |
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