NORDILOG
Spend Analysis with Functional Expertise
Why Do We Need Spend Analysis?
In most cases, there are substantial opportunities 'hidden' in the spend data generated by typical enterprise systems. The data is, however, nothing more than jargon if it cannot be made sense of. Spend analysis can help by providing visibility into the enterprise spend by commodity, geography, and business unit, allowing the enterprise to track expenses and clearly visualize the company's spend patterns.
Tracking spending provides the enterprise with invaluable business intelligence and business insight. With this, enterprises can perform informed supply management, make sourcing decisions, and develop sourcing strategies to maximize buying leverage and ultimately achieve savings.
What Is Spend Analysis?
Spend analysis is not simply a project but an integral part of the procurement process; it is performed annually, or even quarterly or monthly in more cyclical businesses. The procurement spend analysis process entails the analysis of structured data in which one can identify opportunities for savings.
Our process
Extract raw data
Validate and cleanse
Analyze
Connect benchmarking data
Report
Key Questions
Are there obvious price discrepancies?
Where are we spending the most?
Are we leveraging volume for savings opportunities?
Who are our key suppliers?
Can we consolidate our volumes to fewer suppliers?
What should we focus our sourcing efforts on?
The Nordilog Edge
Nordilog offers specific freight procurement consulting services powered by state-of-the-art business intelligence software. Functional expertise is imperative for exhaustive analysis. With our knowledge and expertise, supported by an in-depth spend analysis, we are able to draw up sourcing plans and devise strategies, delineating for an enterprise-wide, customized opportunity assessment. This is essentially the missing link for a comprehensive spend analysis process, which our services provide.
Interested in learning more about our services?