Spend Analysis
Articles, videos, inforgraphics and presentations about spend analysis
Spend Analysis for Complex Categories
For most organisations complex indirect 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.
Claritum hosts KTP Management Committee meeting
Bath, UK (Nov 6, 2019) – The committee that oversees the Knowledge Transfer Partnership (KTP) between Bristol University and Claritum met this week at the Claritum offices
Does Low Cost Spend Control Matter?
Getting low cost spend (or Tail Spend) under control offers more benefit than you realise. Cost savings of course. However, reduced supply risk, time savings, better compliance and improved user satisfaction are all significant benefits to your organisation.
Visibility and Control is the key to Complex Spend Management (article)
There are unique challenges and opportunities presented by complex, frequently ordered categories of Indirect expenditure, such as marketing services, print, packaging, uniforms & apparel, office supplies and related products and services
How to carry out a Spend Analysis in 5 steps
Claritum have helped many organisations analyse what they currently spend and identify savings opportunities. We know it can be a daunting task. However, a spend analysis can lead to significant savings opportunities. Below we have summarised how to carry out a Spend...
Direct savings potential eprocurement infographic
An easy-to-use eprocurement system delivers savings efficiencies of approx 30% Companies could be saving as much as 30% on their annual spend through the installation of a cloud-based eprocurement system, that’s according to an infographic released by Claritum. Using...
Complex Spend Eprocurement Infographic
•Integration/ Web services and 3rd party apps
•Return on Investment
•The journey to best practice
•Savings and benefits
Spend Management Platform
Video introducing Claritum’s spend management platorm and capability. Claritum helps you to maximise on spend under management.
Do you really need to invest in a cloud based spend management platform?
Read on and find out why your organization really needs to invest in sourcing technology such as a cloud based spend management platform.1Is your spend visible? Can you account for all the spending within your business? If you already know what everyone within your...
Go on a spending diet
Has your spending left you feeling bloated and over weight? Has your uncontrolled spending given you the January blues? Do you know where those few extra pounds (or dollars) went? Did you feel the same way 12 months ago but lacked the resolve to truly tackle your...
10 Signs Your Complex Spend is Out of Control
Proxima* analyzed the impact of a 1% reduction in both labor and non-labor costs across 1,954 organizations. Based on 2011 figures, if all the companies reduced labor costs by 1%, they should be able to raise EBITDA by 0.7% totalling $21 billion USD across the...
Spend Visibility – Why is it so important?
It is crucial that organisations have clear visibility of what they are buying and how much they are spending. Yet few organisations have a good understanding of their spend visibility. The problem For most organisations complex indirect spend categories pose an...
How much did you spend today?
From Tokyo to Boston, unlike an ERP (enterprise resource planning) system, a cloud based spend management platform can be installed within hours and can tell you in real time exactly how much you’ve spent. Here’s how it’s done. How much did you spend today? Your PO or...
Spend visibility is the start point – Identifying what the true spend is, is critical
The rise of easy-to-use procurement tools is democratising procurement. Once upon a time procurement was a department that you went to because you were forced to in order to make a purchase. Other departments resented procurement as they felt it got in the way....
Why organizations are failing to gain control over expenditure
Organizations are failing to gain control over expenditure. $2tn is the figure estimated to be spent on complex categories by organizations, representing 1-3% of their turnover. Figures indicate that organizations could save at least 15-40% savings by bringing spend...
Pitfalls to watch out for in spend management visibility
While new technologies such as cloud based systems have helped organizations gain better visibility and control over their spend, gaining visibility still requires quite a lot of domain expertise and localized knowledge. The nature of every day spend management...
Laying solid foundations through spend analysis
Off-contract spend is procurement’s greatest nightmare, says Richard Hogg. But most CPOs already possess the tools to tackle it. Market volatility, supplier uncertainty and hard-to-predict commodity prices are among the challenges keeping CPOs awake at night. But the...
