20% of the typical companies spend is complex expenditure but many companies struggle to account for this type of spend. Do you know how much your business spent today on complex products & services… …locally, nationally or globally?
How much do you spend on complex products and services such as:
- marketing services
- print and packaging
- signage and exhibitions
- uniforms and apparel
- office supplies
- gifts and premiums
Is your company, like most, heavily reliant on manual processes? 80% of businesses use online search, phone and email to source complex products and services. This results in a lack of visibility and control. If you rely on manual processes then you won’t know who you are buying from, if you are getting value for money, who is buying what, and how much are you spending. You need access to this kind of data if you want to make better decisions, save money and become more profitable.
The problem of complex expenditure can be fixed. Try our 5 Steps to controlling your complex expenditure – gain visibility, get control, deliver savings, improve efficiency and add more value.
STEP 1 Gain Spend Visibility
- Deploy an easy to use cloud management spend management platform like Claritum to streamline the buy-sell process.
- Drive adoption and usage across categories and businesses.
- Capture line item data for every transaction.
STEP 2 Control Complex Expenditure
- Centrally control localized buying.
- Standardize and aggregate demand.
- Consolidate and rationalize supply.
Spend Analysis for Complex Categories
For most organisations complex indriect spend categories pose an opportunity for significant savings and efficiencies but are seen as too challenging to address. However, savings of up to 40% can be achieved if the right approach is taken.
STEP 3 Deliver Savings
- Leverage commodity spend for volume discounts.
- Increase competitive bidding for custome spend.
- Minimize errors, waste and obsolescence.
STEP 4 Improve Efficiencies
- Automate source-to-settle processes.
- Streamline across supply chain.
- Release experts from admin to add value.
STEP 5 Add More Value
- Reduce time to market.
- Focus on business goals.
- Improve customer satisfaction and supplier alignment.