With the expectation that improving spend visibility is essential for delivering better insights and even encouraging digital transformation efforts, organizations today are reassessing their strategic initiatives around spend analysis. In this context, the question of “build versus buy” for spend analysis has come front and center.
A true assessment of spend analysis requires an honest and open view of an organization’s current spend data process capabilities in collecting, normalizing, and optimizing spend data combined with the current analytical tools for providing procurement-centric visibility.
This white paper provides a framework for assessment that includes:
- People skills and resource availability
- Processes to handle ongoing spend data cleansing and analysis
- Technology question around whether BI tools are enough
- Several real-world customer examples showing the ROI of a “buy” decision