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Spend Analysis Pro Tip #12 – Price and Usage Aren’t Enough

Price and usage data are a great start, but they’re just the tip of the iceberg when it comes to spend analysis. To truly turn your data into actionable sourcing strategies, your Procurement team needs to look well beyond these figures.

Factors like quantity price discounts, shipping costs, early payment discounts, contract terms, quality levels, and scopes of work can all prove instrumental in developing savings initiatives.

Failing to collect enough data could lead your team to miss out on savings and mistakenly pursue inefficient, non-value adding supplier relationships.