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A Programmatic Approach to Spend Visibility Success


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White Paper > 11/06/2008
Spend Visibility

It becomes increasingly difficult to increase revenues in an ever-tightening economy. For this reason, many companies re-examine their spend management practices to impact their bottom line in times of economic uncertainty such as those we are currently experiencing. One of the key tenants of such an approach is identifying opportunities to bring more spend under management and source more effectively. Spend visibility is an important mechanism to achieving these objectives, returning—on average—a two to 12 percent reduction in costs through more-informed strategic sourcing strategies, a 55 percent improvement in compliance resulting in seven percent savings through usage of contract pricing, and reductions in sourcing cycle times from 30 to 50 percent according to Aberdeen Group research.