SpendEdge Helped Leading Bank Realize a Superior Procurement Function

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Jul 25, 2023, 13:00 ET

NEW YORK, July 25, 2023 /PRNewswire/ -- SpendEdge, a global leader in procurement market intelligence space recently engaged with a leading bank with branches in various parts of the world transform into a reliable and efficient leading procurement function with actionable insights.

The banking giant faced issues due to the lack of standardization across systems, processes, and customer data. Poor visibility and difficulty in analyzing data from disparate systems were some of the other major challenges. To achieve cost reduction and enhance business efficiency, the client wanted to explore the potential of implementing a standardized shared-services platform.

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 carefully and create bespoke solution to suit the scope of the client's business model.

As per the procurement leader, their experts started working with the client's team and carefully analyze the challenges and develop an appropriate research solution. SpendEdge experts helped the client evaluate various spending reports and accordingly devise the best-suited strategies.

Along the same lines, the client also gained actionable insights into pricing trends in order to reevaluate its methodology and achieve optimal savings. The experts helped identify various cost-saving opportunities hidden across business units and boost overall business growth.

Through automation of procurement activities, the client witnessed a significant reduction in lead times while maintaining cost efficiency and quality. The experts' recommendations suggested ways for the client to access and analyze data to strengthen decision making easily and quickly.

Impact Delivered:
Devised best-suited strategies based on spending reports
Actionable insights into pricing trends
Access and analyze data to strengthen decision making

Read the full case study: Click here

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