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Example of Spend Data Classification

The amount of detail in spend data differs between companies. What is a critical field to one industry may not matter to another. As our team builds classification rules, we look at any and all fields that contain useful information.   Typical fields we may see...

How Do You Define and Measure Accuracy in Spend Analysis?

A lot of spend analysis vendors use percentages when describing spend analysis and their capabilities. “Classified to >85% accuracy.” “Cleansed at 95% accuracy.” Or “Classified close to 100% accuracy.”   At Sourcing Force we also use percentages to validate...

What is Supplier Normalization in Spend Analysis?

This blog post focuses specifically on supplier normalization.   What is Supplier Normalization? Supplier normalization is the process of taking supplier names with multiple spellings, mis-spellings, abbreviations, etc. and normalizing them (cleaning them up so...

Why Do I Need SRM?

SRM is much more than a buzzy acronym that’s been tossed around the business and procurement world for the past decade or so. Is it time to invest in a Supplier Relationship Management solution? 
The contents of this e-book will help you determine that. Signs your business needs an SRM solution to improve procurement and productivity.

How to boost your Procure-to-Pay value

Learn how to Identify and drive organizational procurement value. Effectiveness is about producing an expected result and the gap between the target and the actual result defines the level of performance. “The less, the better” is now the objective for streamlined and powerful Procure-to-Pay processes.

Is Your Contract Management Really Effective?

This document presents some of the contract management problems that organizations encounter and the benefits that a perfect contract management system can offer.Signs your business needs a SRM solution. Contracts are a fundamental building block in any business. They really are the binding relationship between an organization and its customers and suppliers.

The Ultimate Guide To Spend Analysis

Procurement organizations should use spend analysis to leverage buying power, reduce costs, provide better management and oversight of suppliers, and to develop an informed procurement strategy. 
Spend analysis should include the identification, automated collection, cleansing, grouping, categorization, and analysis of all spend data for the goods and services purchased for the organization.

Source-to-pay : Learn how to create new sourcing opportunities 

Read about stabilizing your spend, choosing the right suppliers, maximizing internal value and more…

Example of Spend Data Classification

Example of Spend Data Classification

The amount of detail in spend data differs between companies. What is a critical field to one industry may not matter to another. As our team builds classification rules, we look at any and all fields that contain useful information.   Typical fields we may see...

How Do You Define and Measure Accuracy in Spend Analysis?

How Do You Define and Measure Accuracy in Spend Analysis?

A lot of spend analysis vendors use percentages when describing spend analysis and their capabilities. “Classified to >85% accuracy.” “Cleansed at 95% accuracy.” Or “Classified close to 100% accuracy.”   At Sourcing Force we also use percentages to validate...

What is Supplier Normalization in Spend Analysis?

What is Supplier Normalization in Spend Analysis?

This blog post focuses specifically on supplier normalization.   What is Supplier Normalization? Supplier normalization is the process of taking supplier names with multiple spellings, mis-spellings, abbreviations, etc. and normalizing them (cleaning them up so...

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Procurement-Related Definitions

Procurement-Related Definitions

In this post, we provide definitions of various procurement-related terms as well as other terms that are related to sourcing and spend management.   Cost Management Cost management can refer to the costs associated with individual projects, or cost management of...

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7 Steps To Spend Analysis

7 Steps To Spend Analysis

Here are the steps that can help you conduct your Spend Analysis in a better way. “Without big data analytics, companies are blind and deaf, wandering out onto the web… like deer on a freeway.” –Geoffrey MooreStep OneIdentify sourcesIdentify all the...

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