News and Content for Procurement Professionals

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Four Ways Procurement Analytics Identifies Savings Opportunities

Understanding and analyzing your company’s spend structure is often the first step towards laying the foundation of a data-driven procurement organization. But for many companies who have jumped into the analytics bandwagon, translating analytics to fact-based actions that enable realizing procurement savings is a tough nut to crack. This article will discuss some promising cost-reduction strategies enabled by analytics that can grow your procurement savings exponentially.

Taking Control of Maverick Spend

As maverick spending, or rogue buying, can account for up to 80% of a company's total spend, the inherent savings potential is often substantial. We have shared five steps to help you to get control of your maverick spend.

Six Practical Steps to Realize Savings Through Bundling

Bundling is a vital procurement lever to help drive cost reductions across your organization. Follow these six steps to succeed and maximize savings during the process.

How to Identify Savings Opportunities: Bundling

There are several procurement levers you can utilize to drive cost reductions. Bundling, or consolidating spend, is one of them. But how do you use procurement analytics to identify bundling opportunities?

How to Identify Savings Opportunities: Renegotiation

Procurement analytics comes in many shapes and forms. Let us take a look at some analyzes that you can use for identifying renegotiation opportunities.

How Can Procurement Professionals Succeed With Cost Savings

In this article, we look at five steps to identify and prioritize cost-saving measures that increase the likelihood of success.