The ROI of Spend Analytics

If you are considering a spend analytics solution, most likely you will need to make a strong business case for the value you expect to capture and in what time period. To assist procurement teams with that process, this is an excellent resource that provides hard numbers backed by actual customer usage.

Independent researcher Hobson & Company completed detailed interviews with global customers of SpendHQ’s Spend Intelligence solution to quantify the benefits and time-to-value those procurement teams experienced in real life. Among the findings are that customers:

• Reduced the time it took to collect and analyze spend data by average of 80% 
• Actioned an average of 30% new procurement opportunities each year
• Reduced on average 30% the time to report on supplier diversity progress
• Increased addressable spend by average of 10% through new spend visibility insights

Other quantified benefits included: price reductions thanks to better data for negotiations, increased use of preferred suppliers, and improved payment terms. You’ll also learn how a representative customer could achieve payback in less than five months.