Managing Energy Spend in a Volatile Market

Insight Sourcing Group’s Ben Saunders Joins Spend Insights

Managing Energy Spend in a Volatile Market

SpendHQ Presents Spend Insights Podcast

Episode 003: Managing Energy Spend in a Volatile Market

Managing the energy spend and consumption in areas like electric and natural gas is top of mind for many organizations today. Organizations are actively looking for ways to reduce cost, monitor savings and improve contract negotiations. During this podcast we sat down with Ben Saunders, Procurement Risk Management Lead with Insight Sourcing Group’s Enterprise Energy Solutions division, to discuss the current state of the energy market and address strategies for improving demand reduction and energy efficiency efforts.

Ben’s energy risk management, procurement, and negotiations experience has been built on large commercial and industrial clients nationwide. He assists clients in developing enterprise-wide strategies as well as execution at the site and contract level. His recent portfolio of engagements includes large manufacturers, refineries, telecommunications, and data centers- all totaling over $4.5B in energy spend.

“Today we work with SpendHQ to take AP level data and point us in the direction of where there are going to be larger opportunities and a larger operational footprint from a client. We then backfill that data with line item level detail from invoices and from contracts that we use to execute a strategy with clients… So if you are going to have effective energy contracts you need to understand what your demand profile is and not just on an annual basis, but from month to month, how are you using energy. Even within each day what does your time of use look like.”

Spend Insights

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.

ISG Enterprise Energy Solutions

Our team of energy experts partner with clients to provide comprehensive supply and demand management solutions in order to reduce energy costs and manage risk. By understanding our clients’ cost drivers, consumption profile, and operational requirements, we are able to assist them to identify, analyze, and execute sustainability solutions that meet their financial targets.

We stand out from our competition because we are truly unbiased advisors to our clients. The energy industry’s consolidation of suppliers, consultants, and equipment providers has only increased the value of having an independent third party that can make decisions to maximize value for the end consumer.

Our energy management process is proactive, market-driven, and supported by proprietary market intelligence gathered from years in the industry. Our Insight Engine provides our team with benchmarks and industry profiles which expedite the path from identifying opportunities to implementing savings.

Learn more at insightsourcing.com/energy.

About SpendHQ

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.

Stay up to date with all things procurement by visiting SpendHQ’s procurement blog and by following on LinkedIn.

Client Testimonials

  • 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.

    Tom Nash
    Tom Nash Chief Procurement Officer and Head of Supply Chain at American Red Cross
  • 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.

    Mike McHale
    Mike McHale CPO at Invesco
  • 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.

    Ammar Al-Rifai
    Ammar Al-Rifai Global Indirect Procurement Systems & Operations Senior Manager at Zebra

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