Our spend analytics partner
At Provalido we firmly believe in a “best of breed” approach, whereby organisations choose the procurement tools that are best-in-class for each aspect of their requirements, such as a P2P tool, a Spend Analysis tool, an RFx tool, a Contract Management tool, an SRM tool etc. The evidence is overwhelming that this provides a better combination of usability, features and price than a “one-size fits all” suite approach where inevitably certain aspects of the suite are far from the best of their kind.
Our Savings Manager works really well as a stand-alone solution. However, for even greater usefulness we would always recommend using our system in conjunction with a good spend analysis tool.
Before beginning to plan future savings projects, having full visibility of your spend is essential in order to understand where the areas of opportunity may lie.
Following the conclusion of a procurement cost reduction project, using the spend analysis to see the effect of those savings hitting the bottom line, or to track compliance, is vital information. Analysing trends and knowing how much spend has been addressed in a period of time will help continue to fill the pipeline of savings opportunity for the future.
This is why since 2016 we have partnered with Spendency.
Spendency shares the same approach to spend analysis as Provalido has to savings management. The tool is really easy to use, extremely quick to implement, rich with all the functionality most organisations would ever need, and is competitively priced. Just like Provalido, it’s been designed and built by procurement professionals with many years of experience.
We’re all about better procurement and Spendency is an easy to step to better procurement for those that either don’t have a spend analysis system, or are struggling with a system that’s hard to use or expensive to maintain.