Spend Management

Today’s organizations need more sophisticated methodologies and technologies if they are to achieve the next level of savings and efficiency in strategic sourcing.

Many organizations are reaching a plateau of spend under management, achieving upwards of 50% of total spend through an e-sourcing tool.

Much of this spend under management is not being managed efficiently by basic e-sourcing tools because of the lack of flexibility and analysis capabilities needed to address more than the most simple and tactical sourcing events. As a result, buyers are relying on Excel spreadsheets for bid collection, distributed either by email or through an e-sourcing tool used solely as a messaging platform.

Advanced sourcing technologies enable companies to complement their basic e-sourcing platforms by addressing a range of spends from those that require additional bid collection flexibility and basic analysis to the truly transformational, complex sourcing projects.