How the Best-in-Class “Strike it Rich” with Spend Analysis

An Ardent Partners Report

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Date: 26 February, 2015

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, 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.

 

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How the Best-in-Class “Strike it Rich” with Spend Analysis
02/26/2015
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english
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spend visibility
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Industry Research
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