Get more out of your data.
As procurement shifts to a more strategic function, having a clear and accurate understanding of your spend is more important than ever. The best way to gain insight and visibility into your procurement spend is to perform a spend analysis. Unfortunately, spend analysis can be tedious, and many procurement departments lack the time and resources to collect the proper data and thoroughly analyze their spend. At Group O, we have spend experts that are dedicated to providing in-depth spend analysis that delivers procurement insight and visibility into your spend to drive efficiency and cost-savings.
Retrieve, analyze, define
Discovery and Data Collection
Our experts work with necessary stakeholders to gather data from various company systems and consolidate it into one single repository. By collecting invoices, purchases orders, contracts and supplier data, we will make sure the right data is being analyzed.
After consolidating spend data, we resolve discrepancies such as naming conventions and typos to ensure data is easier to work with and depicts an accurate picture of your spend categories and vendors.
Through data cleansing, we are able to identify significant investments and classify direct and indirect spend to pinpoint what you are spending money on and who you are spending it with.
With clean data and categorization, we are able to identify improvement opportunities, prioritize which segment should be focused on first, and develop a cost-saving strategy based on your company goals.
Create a strategy that works.
We understand that every company has different goals and objectives, and your spend strategy should reflect your companies unique needs. After completing our spend analysis, our spend experts provide you with a clear and comprehensive report detailing what your company is spending, who you are spending it with, and if your company is getting the agreed upon product or service at the contracted price. We also identify areas of savings and create a custom strategic sourcing strategy to address areas of improvement including payment terms, contracts, and compliance.
As your spend strategy is implemented, our work does not end! We will continuously monitor performance and develop more efficient processes in order to get the most out of your spend.
We realize that every company is unique and standard solutions are not always the answer! That is why we specialize in a variety of highly customizable and configurable business solutions.