I would like spend some time to talk about what’s new in spend analysis technology and the benefits its providing to the market in terms of efficiency, visibility and speed to ROI.
Data Extraction and Importation
The biggest undertaking with older da…
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How often have you heard the phrase what you don’t know is what costs you? This phrase has never been truer than when companies are trying to assess who and what they are spending their money on. Take this classic example of what happens when a cor…
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In the recent webinar, Correcting Your Spend Vision with Visibility, Mickey North Rizza, research director with AMR Research, discussed implementing spend visibility tools to bring more spend under management, gaining competitive advantage through analytics.
During the webinar, we received three really great questions from our audience, and wanted to share Mickey’s responses covering maverick spend, data [...]
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Iasta, a leading provider of eSourcing software and solutions, today announced that Gartner, Inc., a leading independent provider of research and analysis on the global information technology industry, has positioned Iasta in the “ChallengersR…
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ERP systems have been historically good at processing and recording transactions, but mining data for spend visibility was not one of them. Spend Analysis started in the early 1990’s at progressive companies like GE and at consulting firms like M…
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Category management is very valuable to organizations that conduct sourcing initiatives and want to capture key knowledge around that specific sourcing category, integrated with the corresponding organizational Spend. This allows for ongoing category…
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One of the big cost and “choke” points in Spend Analysis has been the difficulty in collecting the many different sources of Spend related data. Spend data typically resides in disparate systems, including ERP, AP, PO, Pcard, Suppliers, Supplier …
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In procurement, we often hear of efforts to eliminate rogue or maverick spend by employees who simply won’t budge on their purchasing processes. There are obvious problems with these purchasing rogues, including the failure to leverage purchasing power, little oversight, poor tracking, and labor intensive paper trail to process expenses. And with large dollar estimates [...]
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I attended Spend Management Day in Palo Alto yesterday in order to hear the presentations by several people leading top notch spend management efforts in their organizations. I’ll have plenty to report on it in the next week or so, but would like to tee things off with a recap of my favorite take away [...]
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Spend management is known to prevent wasteful expenditures, but it’s rarely credited with being able to prevent crimes. However, the indictment of a Fry’s Electronic’s VP for defrauding the company and it’s suppliers of $65 million could have been avoided if the company had a procurement process in place based on managing spend visibility and [...]
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