SpendEdge, a leading provider of procurement market intelligence solutions, has announced the completion of their latest success story on identifying over $23 million in reduced spend opportunities for a US telecom company.
The company wanted to improve spend management and develop an enterprise-wide procurement strategy to ensure the availability of funds for future acquisitions. The key objectives they aimed to achieve through this engagement are mentioned below:
- Objective 1: The company wanted to improve spend visibility to leverage spending power across different business units.
- Objective 2: They also wanted to improve supplier satisfaction to gain the most value from purchases.
- Inefficient processes and payment patterns can make it difficult for companies to manage coinciding spend. Request a free demo today to know how our solutions can help you improve spend management.
“Companies in the US telecom industry need to make better purchasing decisions to bolster current revenue sources and recognize opportunities arising from changing market conditions,” says Srinivas R, Procurement Manager at SpendEdge.
Key findings and solutions offered
In collaboration with SpendEdge, the client – a company in the US telecom industry – better controlled procurement and managed spend in the wake of multiple acquisitions. The solution offered helped them to:
- Identify over $23 million in reduced spend opportunities.
- Transform the procurement process and minimize spend across all categories by 12%.
- Inability to identify savings opportunities can hinder companies from achieving the desired growth rate. Request a free proposal and access our complete portfolio of spend management solutions today!
- Outcome: SpendEdge’s experts performed a detailed spend and category analysis to identify saving opportunities for the client. They gained in-depth insights to revise procedures and policies, key performance indicators (KPIs), and metrics to manage the spend. This helped the client to identify opportunities for savings in different spend categories. The solution offered included the soliciting of competitive RFPs, developing negotiation strategies, and selecting potential suppliers. This further enabled the client to assess the financial health of suppliers and appropriate cost structure.
To access the complete case study on how we helped a US telecom company transform the procurement process and improve spend management, get in touch with our experts here!
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SpendEdge shares your passion for driving sourcing and procurement excellence. We are the preferred procurement market intelligence partner for 120+ Fortune 500 firms and other leading companies across numerous industries. Our strength lies in delivering robust, real-time procurement market intelligence reports and solutions.