2. Big “Spend” Questions
CFO: How do I strategize and
CTO: I have disparate systems. How do I implement our 3-5 year plan on cost
integrate data from these systems to cutting in procurement without clear
make it visible to all units? data?
CTO: Some of my data is stored
outside my company’s systems. Is it CPO: There are so many classification
possible to integrate that data as systems and coding standards. Which
well? Who will do this for me? ones will fit my needs?
CFO: How do I ensure compliance? I am
not getting the kind of data I need!
According to Aberdeen Group, inadequate spending analysis capabilities are costing
businesses $260 billion in missed savings opportunities annually
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3. Factors Influencing the Big “Spend” Questions
Contributing Factors
No cross regional comparison standards
/ harmonization……..
• How many disparate data
sources?
Purchasing professionals need more insightful data
to manage their relationships with suppliers……. • How much of the source data
is accurate and complete?
A majority of Finance Directors have limited view of
indirect spend due to numerous categories of spend • Disparate suppliers
to be analyzed…..
• Lack of uniform supplier
naming conventions, product
Volume and complexity of data sources, inability to
extract data and poor data quality inhibit significant or service categorization
number of organizations’ ability to conduct spend
analysis……. • Is data mapping accurate?
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4. How do we overcome these challenges
Coming Soon!
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