5 Ways Spend Intelligence Helps You Fortify Against an Uncertain Economy

Do you have the right spend insights in place to help you weather an uncertain economy, inflationary pricing, or even a recession? If you’re on a Procurement team for a global company, even one country’s economic struggles can impact your priorities. Procurement is often on the “front lines” of finding ways to protect the business during challenging periods for growth and/or supply chain risks.

A modern Spend Intelligence solution gives Procurement an undeniable advantage by providing real-time and comprehensive insights that covers most of your spend — especially if it’s accessed with speed and ease to optimize and accelerate decision making. This eBook illustrates 5 real-world examples of companies leveraging their own spend and supplier data to deliver strong performances even in an uncertain economy with inflationary pricing, an acute crisis, or unforeseeable trend:

1. Identify areas of maverick, non-compliant spend
2. Conduct internal benchmarking using spend category history
3. Determine areas for supplier spend consolidation
4. Identify areas where demand management may help
5. Make progress towards ESG goals despite challenges

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