Analytics are all the rage. And spend analysis plus spend analytics equals Procurement 101. So, getting some reasonable investment for reducing cost and increasing eprocurement savings shouldn’t be a problem, right?
Wrong. The problem with spend analytics is that the identified value is all “option value.” By using the right spend analysis software to analyze your spend data, you can generate valuable spend analytics to uncover valuable savings opportunities. You can then improve your procurement outlook by implementing the identified opportunities to impact your spend mapping and spend analysis.
So, how do you overcome this problem? This research paper provides you with 10 spend analysis recommendations to help you overcome this Procurement Catch 22 problem.
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