SpendHQ’s Jake Wojcik Joins Spend Insights
A Conversation with Jake Wojcik, Executive Vice President at SpendHQ & Insight Sourcing Group
SpendHQ Presents Spend Insights Podcast
Episode 012: A Conversation with Jake Wojcik, Executive Vice President at SpendHQ and Insight Sourcing Group
Constantine Limberakis, Director of Product Marketing at SpendHQ, recently spoke with Jake Wojcik, Executive Vice President of SpendHQ and Insight Sourcing Group. As a senior executive with over 20 years of management consulting expertise, Jake has focused his career on helping organizations deliver positive EBITDA opportunities by executing on procurement optimization, spend analysis, strategic sourcing and other procurement strategies.
In this episode, Jake joins Spend Insights to share four specific strategies he has applied throughout a decade of working with private equity organizations to help them manage their spend data across numerous portfolio companies.
“You have to get down to the data points of each company that you’re going to transform the data from and that usually starts with AP data including GL codes, materials management codes, purchase orders, p-cards and expense data across every single business unit. At SpendHQ, we have an algorithm-based process to ingest all this data to normalizatize the vendors to build a true vendor categorization or taxonomy that starts at the vendor level. Certainly companies can try to do this themselves, but we are talking about millions of lines of data.”
Spend Insights is a podcast series dedicated to the experiences that shape the world of sourcing and procurement. If you’d like to be featured as a guest on Spend Insights, or if you have a topic you’d like to hear covered, feel free to submit your request here.
SpendHQ is a spend analysis solution that provides rapid, accurate and detailed visibility into enterprise spend data. This full-service SaaS (Software-as-a-Service) spend analytics solution delivers actionable insight for sourcing and procurement professionals. With SpendHQ as your command center, you give procurement leaders inside your organization the power to impact the bottom line.
Recognized for innovation and industry impact in the procurement space, SpendHQ was named to the 2015 Red Herring Global 100 list and named the Best Big Data Reporting & Analytics Solution and Data Visualization Technology solution in the 2018 SIIA CODiE Awards. With SpendHQ at their fingertips, clients ranging from Fortune 500s to mid-market companies are finally able to see their enterprise spend clearly and drive savings confidently.
As a subsidiary of Insight Sourcing Group, SpendHQ is built by industry leaders with unmatched sourcing knowledge. Inc. Magazine has ranked Insight Sourcing Group among the fastest-growing private companies in America every year since 2008. In 2017, Insight Sourcing Group was also named the #1 Boutique Consulting Firm in the U.S. by Vault.com. To learn more about SpendHQ’s spend analysis solution and start taking control of enterprise spend data, request a custom spend analytics demo today.
After benchmarking spend analytics tools used across all industries, the American Red Cross selected SpendHQ based on our evaluation of their practitioner-built tool and practical approach. Implementation has been smooth, and early results are encouraging to date. At this point, we believe the Red Cross will achieve its targeted 7X ROI on the cost of this tool.
The intuitive interface and graphical nature of SpendHQ made it an easy choice for us. We looked at several other tools and none of them measured up to SpendHQ in terms of ease of use or quality of data.
SpendHQ has a superb user-interface and easy-to-use analysis features that enable our Procurement team members to gain valuable, actionable insights into the spends they manage. The support team has also been very efficient in completing the periodic data refreshes such that the system reflects the most up-to-date information possible.
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