Increasing Productivity of Procurement Functions by 20% | SpendEdge’s Latest Case Study on Tail Spend Management
LONDON--(BUSINESS WIRE)--Apr 5, 2019--SpendEdge, a leading provider of procurement market intelligence solutions, has announced the completion of their tail spend management study for a global consumer goods company.
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Tail spend management study for a global consumer goods company. (Graphic: Business Wire)
The client wanted to improve their spend visibility to enhance incremental savings by improving the effectiveness of their supplier onboarding process. The time designated to achieve this business objective was six months.
“Despite accounting for 20% of non-core transactions that lie outside the main strategic purchasing strategies, tail spend is usually left unmanaged due to the high volume of suppliers and inadequate resources. This majorly hampers the procurement efficiency of businesses,” says a procurement expert from SpendEdge.
Key findings and solutions offered
In a span of six months, the client – a global consumer goods company – improved their tail spend management by standardizing the disparate procurement process. The solution offered helped them to:
Outcome: The tail spend management solution provided by experts at SpendEdge enabled the consumer goods company to optimize excess spend occurring in the purchasing process by efficiently controlling, monitoring, and tracking transactions. This helped them manage their total spend and comply with changing policies and contracts. The solution offered increased the productivity of the company’s procurement process by 20%.
To access the complete case study on cost model analysis, contact our analyst team here!
SpendEdge shares your passion for driving sourcing and procurement excellence. We are the preferred procurement market intelligence partner for 120+ Fortune 500 firms and other leading companies across numerous industries. Our strength lies in delivering robust, real-time procurement market intelligence reports and solutions.
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PUB: 04/05/2019 09:47 AM/DISC: 04/05/2019 09:46 AM