What is Spend Management? Why and How it is Implemented?

What is Spend Management? Why and How it is Implemented? Spend management means managing organization expenditure through processes starting Demand Identification and Spend Analysis to Sourcing and Order Management, for both direct and indirect spend categories. A robust Spend Management...

February 7, 2019

Spend Analytics

What is Spend Analytics? Why and how it is implemented?

What is Spend Analytics? Spend Analytics is the discipline of collecting, processing, and analyzing procurement data. Spend analysis uncovers business buying patterns through an in-depth review of procurement data. Organizations use these to manage their suppliers, to track procurement performance,...

February 7, 2019

Procurement Analytics Spend Analysis

What is Predictive Analytics in Procurement? Why and how it is implemented?

What is Predictive Analytics in Procurement? Predictive Analytics in Procurement refers to the use of available spend, catalog, supplier, and materials data in order to perform analysis that determines patterns and predicts future outcomes and trends. Predictive analysis is comparatively...

February 6, 2019

Spend Analysis Tail Spend

What Exactly Is in the Tail Spend?

At a headline level, I think most procurement folks are now familiar with the concept of tail spend: the low-value spend items that are non-core but still essential to the smooth operation of an organization.

January 29, 2019

Spend Analysis Spend Analytics

The 4C Approach That Can Improve Your Spend Analysis

Spend analysis is the procurement strategy process of reviewing current and historical expenses. The aim of this strategy is to reduce costs, improve strategic procurement, and increase the efficiency of spending management. Spend analysis requires spending data processed into KPIs and...

December 2, 2018

Spend Analysis

How spend analysis services can improve procurement

The company’s procurement strategy must contain spend analysis. A robust and strong spend analysis is vital for successful procurement in the organization. A matter of concern here is whether the company gains maximum benefits as a result of its current...

December 2, 2018

Spend Analysis Spend Analytics Spend Forecasting

Challenges organizations have to face while implementing Spend Analytics

Spend analytics should be a crucial part of any procurement strategy but implementing spend analytics in the strategy is not easy. It calls for a great deal of effort to make spend analytics a part of the organization. The economic...

December 2, 2018

News and Events Procurement Analytics Spend Analytics Webinars

Analytics Webinar

In this webinar, you will learn how Serco uses analytics around contracts, bid support, benchmarking, ethics and more to support business decisions — and the resulting business benefits.

November 25, 2018

News and Events Procurement Analytics Spend Analysis Webinars

How Serco Has Used Spend Data to Generate Business Value

Spend data is a gold mine of valuable information for improving the procurement process as well as driving enterprise-wide decision-making. FTSE 100 services provider Serco learned this first hand when it engaged Simfoni, a provider of spend analytics tools, to change...

November 25, 2018

Spend Analysis Spend Analytics

What are the benefits of Spend Analytics for a company.

Spend Analytics is the study of the amount of money a company spends on products and services. Many companies spend a decent amount of money to ensure they provide their customers with the best possible product or service. However, the...

October 28, 2018