AP NEWS
Press release content from Business Wire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Business Wire
Press release content from Business Wire. The AP news staff was not involved in its creation.

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

May 16, 2019
Spend management study for an electronics company (Graphic: Business Wire)

LONDON--(BUSINESS WIRE)--May 16, 2019--

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

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190516005868/en/

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 company – 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%, get in touch with our experts here!

About SpendEdge:

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.

Want to gain detailed insights? We’re here to help you out! Tell us more about your business challenges.

View source version on businesswire.com:https://www.businesswire.com/news/home/20190516005868/en/

CONTACT: SpendEdge

Anirban Choudhury

Marketing Manager

US: +1 630 984 7340

UK: +44 148 459 9299

https://www.spendedge.com/contact-us

KEYWORD:

INDUSTRY KEYWORD: TECHNOLOGY CONSUMER ELECTRONICS

SOURCE: SpendEdge

Copyright Business Wire 2019.

PUB: 05/16/2019 12:04 PM/DISC: 05/16/2019 12:04 PM

http://www.businesswire.com/news/home/20190516005868/en