Recently, Aberdeen Group released “Spend Analysis: Transforming Data Into Value” [registration required to download]
From the Executive Summary
As dire economic conditions place an unwanted negative backdrop to routine business, spend analysis has risen as a valuable process to the entire enterprise. In fact, 81% of enterprises in our survey for this report cite spend analysis as a high-value option in today’s economy.
I cannot agree more with them. I delivered a seminar on Spend Analysis some months ago at the ISM in Silicon Valley, and I found high interest from the audience. I was lucky enough to be able to speak with one of the attendants few days ago, and he mentioned that his team is currently performing a manual assessment and the results are so astonishing (meaning the discovery of so much waste and maverick spend) that now his team is presenting a preliminary set of findings to the CEO. And the company is one big technology player in the valley, known for sound processes and policies. Imagine what is out here to uncover by performing this sort of analysis. And most importantly, what are the actions after the results are tabulated.
The report is structured as follows:
1.- Benchmarking best in class
2.- Benchmarking requirements for success
3.- Required actions
The report shows a perfect case study to demonstrate how companies save resources by regularly and effectively analyzing their spend and putting it under active management.
