Spend Analysis: Making sense of Data
The business environment today is one of melted borders and global reach. The markets for business as well as the supply base for organizations today is vastly different from what it was even 5 years ago. With an increased reach and a more extensive supply chain comes inherent complexity. Whether it is ensuring seamless supply of materials or ensuring compliance within the organization, organizations need to engage in much more complex processes and workflows. This magnifies the need for spend data and brings under the scanner the importance of enterprise spend data management.
This whitepaper looks at
- The challenges and benefits of enterprise spend data classification and
- Elaborates on the processes that can help successfully extract actionable information from your spend data which in turn can help organizations create strategic sourcing initiatives and achieve savings