Insight Sourcing Group’s Richard Heath Joins Spend Insights
A Conversation with Richard Heath, Director of Enterprise Energy at Insight Sourcing Group
SpendHQ Presents Spend Insights Podcast
Episode 008: A Conversation with Richard Heath, Director of Enterprise Energy & Sustainability at Insight Sourcing Group
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.”
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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