How the Best-in-Class “Strike it Rich” with Spend Analysis
An Ardent Partners report
High-performing procurement organizations know achieving best-in-class starts with asking the right questions. Questions like...
- What are we buying?
- Who are we buying it from?
- How much are we spending?
- Where are the opportunities for saving?
- In which categories do we spend most?
That’s just the beginning. According to Ardent Partners, the best-in-class (the top 20 percent performers in their market) take it a step further by using automated spend analysis tools across the entire source-to-settle process, a solution common to 60 percent of these performers. And what do they accomplish more than other enterprises?
- A nearly 70 percent higher rate of spend under management
- A nearly 40 percent higher rate of spend strategically sourced
- A 37 percent higher percentage of on-contract spend
Talk about striking it rich. Download this report to learn how you can do the same.