Genpact's spend analytics solution

Procurement success is no longer based on cost reduction alone. When procurement teams work closely with other departments and suppliers, they can deliver value through:

• Efficient sourcing - with quicker cycle times and a closer match to the required goods or services
• Optimizing the supply base – lower-risk vendors that deliver quality products and services
• Innovation - working with the supply chain to deliver new products or services
• Capital improvements and cost reductions - when faced with unforeseen challenges such as cash-flow issues, labor shortages, and supply-chain disruption

Spend visibility and spend analytics provide another opportunity for procurement to contribute to wider business objectives. An in-depth spend-analysis exercise can:

• Rationalize the supply base
• Deliver unit cost savings from unmanaged spend
• Reduce maverick spend
• Harmonize pricing across buying centers

Procurement and spend analytics is a straightforward concept but, in practice, the full benefits can be hampered by fragmented legacy systems that provide inaccurate or incomplete data, leaving actionable insights hard to find. But trying to overcome this issue with technology alone is not the answer. Spend-analytics solutions deliver their full potential when they include experienced analysts to review data accuracy, and category experts to draw out insights.

Genpact's spend-analytics offering provides visibility and insights on spend across an organization’s supply base. We bring together scalable technology and analytics experts to deliver accurate results that give sourcing and category teams confidence in the spend data, so they can focus on delivering value.