In our experience of spend analysis projects for complex categories, especially marketing services and print, it can be daunting to know where to start. Follow these top tips from Claritum for a successful outcome with meaningful and actionable information.
- Do something! Don’t assume this category is too complex to get the information you need.
- Clearly define your objectives before you embark on your project. Decide what business decisions you want to make as a result of your spend analysis, and ensure you develop a framework that will give you the information you need.
- Gain senior procurement and marketing buy-in early, as you may need a champion to push through change further down the line.
- Engage independent category specific and vendor neutral experts, not generalists or those eager to win your contract.
- Segment spend groups at both broader and more detailed levels. You will want to be able to roll up and drill down spend detail by carefully identified categories.
- Be wary of invisible costs.
Good luck!
For more tips on conducting a successful spend analysis project download the Claritum White Paper: Spend Analysis for Complex Categories at: http://www.claritum.com/info-centre/white-papers


