Press release

Boosting Process Efficiency and Increasing Spend Under Management for Companies Up to 46% | SpendEdge

Sponsored by Businesswire

SpendEdge, a leading provider of procurement market intelligence
solutions, has announced the completion of their spend
management study for an electronics company

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Spend management study for an electronics company (Graphic: Business Wire)

Spend management study for an electronics company (Graphic: Business Wire)

Project background

The company wanted to improve their spend management to increase the
profit margins in the emerging markets amid US-China trade tensions. The
key objectives they aimed to achieve through this engagement are
mentioned below.

  • Objective 1: The company wanted to minimize capital expenditure
    and reduce excess inventory.
  • Objective 2: They also wanted to improve their spend visibility
    apart from driving organizational value.
  • Want to gain more information? Request
    a free demo
    and know how our solutions can help you
    identify the factors affecting the cost of finished products and
    address them.

“Improving spend management is crucial for companies to optimize
spend and improve bottom line savings. It helps them to drive
organizational value and improve spend visibility,” says a
procurement expert from SpendEdge.

Key findings and solutions offered

In partnership with SpendEdge, the client – a global electronics
– improved spend visibility and boosted process efficiency
by optimizing source-to-pay (S2P) processes. The solution offered helped
them to:

  • Increase the managed spend of the company to 46%
    by improving collaborations between trading partners and
    cross-functional teams.
  • Improve revenues by focusing on strategic activities and complying
    with the contracts.
  • Wondering how you can improve spend management? Request
    a free proposal
    and access our complete portfolio of spend
    management solutions today!

Outcome: The solution offered by experts at SpendEdge helped the
electronics company to analyze different spend categories and reduce the
overall expenditure. This allowed the client to optimize source-to-pay
(S2P) processes, such as spend analysis, contract management, and
strategic sourcing and focus on driving strategic initiatives. The
solution offered boosted their process efficiency and improved spend
visibility by facilitating cross-functional collaboration in the
company. In addition, the solution helped the client to avail early
payment discounts and increase managed spend of the company from 27%
to 46%.

To access the complete case study on how we helped an electronics
company increase their spend under management from 27% to 46%,
in touch with our experts here!

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