Why spend analysis?
Spend analysis is probably the closest thing procurement has to ‘an oldie but a goodie.’ It has been the basis of our sourcing and spend management activities for as long as most of us can remember. But can a historical record of purchase transactions provide the basis for strategic procurement in the age of digital transformation, automation, and real-time insights?
Diego De La Garza, former Senior Director of Global Services and Delivery at Corcentric, joined us for this Corcentric Conversation about the enduring, evolving value of spend analysis and how it can position procurement for success – no matter where they happen to be on their digital transformation journey. As he explains in the podcast, everything should start with spend analysis, because if you don’t understand your spend, you can’t understand your organization.
In this Corcentric Conversation, Diego addresses discusses the benefits of spend analysis, including:
- How spend analysis can support strategic thinking in the C-suite by increasing transparency
- How procurement can draw insights from spend analysis that allow procurement to change the necessary enterprise buying behaviors and write a new historical record
- Where companies on transformation journeys can go when they start with a strong spend foundation
- How spend analysis can inform decisions about the priorities/assignments of procurement resources
Thank you for listening. Be sure to tune in to our next Corcentric Conversation. Until next time!
About our Guest:
Diego De La Garza, Former Senior Director of Global Services and Delivery at Corcentric
Diego is a three-time Supply and Demand Chain Executive Pro to Know, winner of the Council for Supply Management’s 2016 Emerging Leader Award and brings over a decade of industry experience to the table.