Continuing my new age KPI series, I am introducing a spend analysis KPI. Having a passion for Procurement Spend Analysis, I can not stress enough how powerful this metric can be!
Spend Analysis Technology providers have been lazy. They are still pushing a meaningless sea of dashboards in the hope of their annual contract renewals. They are not even clear on how to make use of data and are not committed to spending time on it. The lack of innovation in this space is quite irritating because I believe the most important and powerful in the Procurement Tech space is Spend Analysis. If I have the budget for only one tool in the Procurement Tech space, I will always select Spend Analysis. If driven properly, you can generate recurring cost savings (and not just cost avoidance)
To improve this, Supernegotiate will rebaseline what should be available in Spend Analysis to every company.
For now, dive in into 2025 KPI - Spend Analysis.
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