10 Ways to Save Moneysc_powered_nigp_4col_small


A procurement "savings delivery" blueprint

​Data-driven analytical solutions driven by the direct observation of the achievements of customers’ efforts to transform the way they procure goods and services. Combining the Savings Opportunity Assessment, the 10 Point Plan and the Observatory's SPEND & CONTRACT ANALYTICS functionality will deliver a pragmatic procurement "savings delivery" blueprint as well as the methods and tools required to support effective execution of your action plan.

1. Invoice Consolidation

Reduce the administrative cost of processing an unnecessarily large number of invoices from the same supplier.

2. Long Tail Consolidation

Eliminate the burden and cost of suppliers that you spend relatively little with in aggregate
over the course of a year.

3. Payment Recovery

Review, identify, validate and recover a range of payment anomalies which typically go undetected by conventional pre and post payment controls in the accounts payable process.

4. Improved Terms

Extend the number of suppliers actively managed on the basis of spend value, negotiating improved terms commensurate with the amount of spend.

5. Category Extension

Increase competitive tension by introducing new suppliers in those categories where there are fewer suppliers than the average for the sector.

6. Category Rationalization

Reduce the number of suppliers and consolidate spend into negotiated contracts offering better value from higher throughput in categories that you have more suppliers than average for your sector.

7. Compliance, Contracted Suppliers

Redirect spend from non-contracted suppliers in those categories that already have one or more suppliers governed by a formal contract and reducing "maverick spend".

8. Collaboration, Common Suppliers

Identify other public bodies that buy from the same suppliers where the potential exists to harness the group's collective buying power.

9. Price Variance

Purchase goods and services at the lowest price where a supplier has sold the same goods or services at different price points across time, departments and / or multiple public sector bodies.

10. Category Re-engineering

Transform the procurement of goods and services in complex categories using techniques including re-specification, demand management and supplier engagement.

More Information

For more information on having a Savings Opportunity Assessment carried out for your organization, or to arrange a demonstration of the NIGP Observatory, call Spikes Cavell on 800-990-0228 ext 100, send an email observatory@spikescavell.com
visit www.spikescavell.com , or complete our Contact Us Form.

About Spikes Cavell and Spend Management

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