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4 Challenges of Spend VisibilityAnd A Simple Framework for Clarity

Only 27% of companies feel they have “full visibility” over spending.

Having complete visibility of your spend—that is, knowing exactly where your money is going—is a key factor in managing your bottom line. But most companies struggle to achieve full procurement visibility for a number of reasons.

Why is spend visibility so hard to achieve?

In this perspective, we examine the four most common challenges most clients struggle with relating to their procurement data, and we offer a simple framework for achieving clarity over spend.

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“Insight Sourcing Group’s spend analytics tool—SpendHQ—is highly intuitive and easy to use and has a unique ‘sourcing professional’s perspective.’ It gives us the answers we need without the complexity. We use it on a daily basis to identify sourcing and compliance opportunities and to manage vendor relationships. I highly recommend it.”

 

Tim Hamill
Senior Vice President – Supply Chain Management & Procurement
JLL

Insight Sourcing

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