As CFOs search for ways to better align procurement and finance, many of them overlook spend analysis solutions. But research shows that organizations with better spend analytics typically have more mature procurement processes and robust supplier relationships.
This CFO.com whitepaper, “Why CFOs Can’t Afford to Ignore Spend Analysis“, examines some of the challenges of implementing spend analysis tools, the immediate and more forward-looking benefits, and best practices for achieving ROI. It also points out that, according to bechmarking firm APQC, an organization with a spend analysis program and $5 billion in revenue will spend $11 million dollars less on procurement activities compared to a similarly sized organization without a spend analysis program.
Some of the other immediate benefits of spend analysis highlighted in the report include:
- Better cycle times
- Improved process efficiency
- Increased staff productivity
How can your company benefit from investing in spend management analytics? Find out by downloading the whitepaper today.