Exploring the Potential of Oil and gas procurement

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Aug 30, 2023, 18:00 ET

SpendEdge Helps Major Oil and Gas Player Reduce Procurement Costs

NEW YORK , Aug. 30, 2023 /PRNewswire/ -- SpendEdge, a global leader in procurement market intelligence space recently connected with a major oil and gas organization headquartered in Europe.

Procurement in the oil and gas industry is prone to several issues due to the complexity of the supply chain and procurement process. The European giant wanted to understand how to reduce their procurement costs and embrace sustainable practices.

Game-Changing Solutions:

After understanding the extent of the client's challenges, the SpendEdge team of procurement experts decided to carefully study the intricacies of each requirement and create bespoke solution to suit the scope of the client's business model.

As per the procurement leader, SpendEdge experts identified the reason for high procurement costs. The company determined cost-saving opportunities with the help of our expert technology-enabled cost-modeling solutions. The experts provided the client with information about suppliers' pricing and engagement models.

The insights into the latest ESG trends and supplier sustainability analysis helped the client to embrace sustainable practices.

The recommendations and insights helped the company to achieve a reduction in costs while simultaneously improving their sustainable practices.

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About SpendEdge:

SpendEdge is a global leader in procurement market intelligence space acts as strategic partner to over 200 global procurement organizations delivering insights on category landscape, supplier identification, negotiation strategies, price benchmarking, cost modeling, sustainability practices, and more.

Over the past 2 decades, SpendEdge has worked with procurement organizations across regions, of varying sizes and belonging to several industries. They have helped their clients solve procurement problems of varying complexities. Going above and beyond, the organization heads to the best possible extent using different methodologies to deliver timely and actionable recommendations to support decision making.

SOURCE SpendEdge