With Spend Analysis emerging as a key strategic objective for organizations seeking Procurement & Sourcing excellence, the marketplace has been witnessing a barrage of Spend Analysis jargons, often confusing the audience.
Driven by a strong commitment towards contributing positively to Spend Analysis fraternity, Zycus takes the pleasure of announcing the launch of a new section on its web site dedicated towards explaining the nuances of Spend Analysis. Readers can now have an easy access to the vast Zycus Knowledge repository tracing from the origin of Spend Analysis to the latest trends and happenings.
We sincerely believe this effort of ours would provide you with deeper insight into spend analysis and aid you in your decision making process.
We begin this section with an introduction into Spend Analysis, the buzzword that has been resonating across the companies.
Spend Analysis has long been vogue….. It’s only the attitudes and perspectives of enterprises towards Spend Analysis that has witnessed a paradigm shift. Since its origin, Spend Analysis has traversed through multiple phases ranging from “Quick & Dirty” manual approaches to semi-automated hosted solutions and latest being installing a robust Spend Analysis infrastructure leveraging the existing infrastructure. Not only the approaches but also the Spend Analysis coverage has made rapid strides from supplier level Spend Analysis to commodity level Spend Analysis.
As Spend Analysis has evolved over a period of time so has the learning curve. Lately, enterprises have realized the strategic importance of Spend Analysis and the need to integrate the same as a part of corporate discipline aimed towards delivering long term corporate objectives. Short terms savings, opportunity based sourcing exercises have made a way for Category Management, Purchasing Performance Management and Spend Governance. Overall, Spend analysis has transformed from a parochial approach to a more holistic status encompassing the entire enterprise. |
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