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PDF | Best purchasing and supply management (PSM) practices as identified by academic and business literature and professional organizations offer many. Spend analysis is the practice of analyzing procurement spend to decrease costs, increase efficiency or improve supplier relationships. Procurement spend With the recent focus on cost reduction, many organizations are devoting more time to spend management, or the process by which they analyze their spending data to spot patterns, predict spend, and improve processes and classification, analysis, and visualization Any spend analysis solution.In this white paper we discuss spend management and the actions that enable realising the saving potential revealed by spend analysis. We describe leading A lack of necessary resources and methodology for spend analysis. By Applying Capgemini. Analytics our Clients. • Improve spend visibility. Spend analysis is now considered a necessary first step to effective sourcing. The intelligence from spend analytics allows procurement and sourcing Best practices: Using spend analysis to help agencies take a more strategic approach to procurement. Retrieved from gao.gov/new.items/d04870.pdf. 9 Describe what spend analytics enables in terms of strategic sourcing and category management. • Name some of the top spend analysis software players in the

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