Leveraging Spend Analysis to Enhance Cost Effectiveness and Process Efficiency by Over 60% for a Facility Management Services Client | SpendEdge
LONDON--(BUSINESS WIRE)--Jan 8, 2019--SpendEdge, a well-known procurement intelligence solution provider, has announced the completion of their latest .
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Spend analysis study for a facility management services client. (Graphic: Business Wire)
The development of facility management services into a thriving industrial sector is compelling businesses to function at their most efficient and effective level. It is forcing facility management services providers to enhance the cost-efficiency of businesses, increase the lifespan of assets, help monitor and maintain compliance and manage health and safety requirements effectively. Such demands are increasing pressure for facility management companies to transform themselves into self-aware, flexible structures that are capable of adapting to the ever-changing industry trends. They are facing the dire need to enhance their procurement strategies and optimize their working capital by leveraging the numerous to meet the rapidly evolving industry demands within the budget constraints.
According to the procurement experts at SpendEdge, “Facility management companies need to identify new improvement opportunities while analyzing the impact of volume variances on the organizational spend to achieve maximum value from the transition.”
The Business Problem: The client is a well-known facility management services provider in the United States and caters to both private and public sector companies. Recent business developments and mergers with a multi-national Fortune 500 facility management services provider with several US subsidiaries forced the client to develop an effective post-merger spend management strategy. They felt the need to leverage SpendEdge’s expertise as they were lacking the basic ability to classify spend data and improve spend visibility across their business units. In addition, they wanted to identify long-term savings opportunities and areas for cost reduction to facilitate process improvements and adapt to a fast-evolving marketplace.
Want to effectively manage risks and maverick spend to ensure regulatory compliance associated with the facility management services. and know how our customized spend analysis solutions can address your business needs.
The Solution Offered: The spend analysis experts at SpendEdge adopted a comprehensive four-step approach to address the business challenges of the facility management services provider. They identified advanced spend data sources, consolidated all the gathered data into a central database, categorized data for better supplier management, and then offered a detailed spend analysis and benchmarking solution to enhance the efficiency and effectiveness of processes across all business functions. This helped the facility management services provider to benchmark their performance against market developments and maximized their process efficiency by over 60%. The advanced spend analysis solution also provided continuous improvement processes regardless of the disparate spend data that gave procurement on-line access to flexible reporting of procurement expenditure within weeks of implementation. It also enabled the facility management services provider to identify price arbitrages and execute a robust spend analysis process to achieve maximum value from the transition.
Facility management companies are identifying long-term savings opportunities and areas for cost reduction to facilitate process improvement. to know how you can leverage benefits of spend analysis solutions and reduce overall costs by 60%.
SpendEdge’s spend analysis solutions helped the client to:Maximize their process efficiency by over 60%. Optimize their working capital. An effective spend analysis process requires high levels of sophistication across industries and can be both lengthy and expensive at times. However, they provide vital actionable insights on the appropriate method of execution and implementation of change. and see how our solutions can help you deal with sourcing and procurement challenges.
SpendEdge’s spend analysis solutions offered predictive insights on:Enhancing their procurement strategies. Devising an effective transitional spend management strategy. Read the complete article to know more:
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