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 in a...
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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...
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There are so many reasons that spend analysis projects fail that it’s hard to wrap every potential issue up into one question that will ensure the right decision. Most companies who have attempted spend analysis and had a less than optimal outcome will cite one of the...
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Recently I had interesting conversations with numerous business partners, regarding how the market is defining “Spend Management”. The definition can get very wide across Spend, Supplier, Contract, and Sourcing activities; and considering both software and consulting...
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Changing Sourcing Categories on the Fly – Why Sourcing Force is the Right Dynamic Solution. We have worked on over a hundred projects here at Sourcing Force and one question that never gets old and is fun for me to answer is, “You can really do that?” It is usually...
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Competition is as fierce as ever in the European financial services industry as the move toward a harmonized market over the past decade has driven down margins. It’s Economics 101 – by pushing for transparency, competitors will undercut one another until they are...
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