Contacts Us
North America
Clark, NJ
(Global Headquarters)
100 Walnut Avenue, Suite 304
Clark, NJ 07066
Phone: 732-382-6565
Email: info@gep.com
Updates from Enporion
Spend Visibility
Spend Visibility improves spend management by increasing the breadth and depth of the view of all spend for improved business management.
Spend visibility is a result of exceptional spend analysis. Increasing visibility into enterprise-wide spend allows organizations to identify opportunities for cost savings and process efficiencies. With spend visibility, you will be able to answer the question, “Who buys what, from whom?” in order to develop an actionable understanding of spend patterns, key suppliers, degree of aggregation, types and categories of spend, and more. Typical "quick hits" include supplier consolidation, parts rationalization, and maverick spend. Query and analysis reveal 'purchases just under approved limits,' contract price violations, and project costing. Advanced analytics can offer predictive modeling, forecasting and extrapolation, and statistical analysis.
Achieving 100% visibility into spend is the ultimate objective and payback from spend analysis efforts. One outcome of spend analysis is in the development of a list of opportunities and the identification of specific sourcing initiatives that will deliver both immediate and long-term savings. Future spend can be better planned and go through negotiated agreements, reducing maverick spending.
Continued spend management practices like this allow managers to have better information to make informed decisions. Increased control of spend and a better view of spending patterns will most likely result in teams reevaluating their current supply management processes and suppliers. After negotiating your best contracts and rationalizing your suppliers, two more challenges surface: contract compliance and user adoption. Compliance is tackled via contract management software. Training, change management, and regular management reports will show the level of use and compliance, and provide management with business information necessary for ongoing process improvement.
