SpendHQ Podcast with Partner Insight Sourcing Group (ISG)
Constantine Limberakis, Director of Product Marketing at SpendHQ, recently spoke with Richard Heath, Director of Enterprise Energy & Sustainability at Insight Sourcing Group.
As an energy and utility expert, Richard shares his personal insights and experiences for how finance and procurement can better forecast and budget energy spend and addresses the best practice approaches ISG uses to manage energy spend based on the organizational, regulatory and environmental factors that can impact it.
“Most of the time what we find is that for utilities (energy included), these spend, even though can be quite substantial in an organization they seemed to be looked at as unaddressable. By that I mean they look at it as an annual spend that is going to be at a run rate year over year and the budget to that for the following year. The problem or opportunity with that approach is that it starts off with the assumption that is reasonable and it’s without any tie to a business metric. But this is where we find an opportunity to look at the energy spend and the analytics to make it more addressable.”