SPEND ANALYSIS & SOURCING
• Better supplier management : Helping to evaluate supplier performance to find strategic partners ;
• Risk mitigation : Uncovering potential supply chain vulnerabilities ;
• Compliance improvement : Ensuring adherence to procurement policies and regulations .
Transforming spend analysis from a tactical to strategic tool Robert Fuhrmann is a Senior Managing Director based in Chicago , US , leading Accenture ’ s global sourcing and procurement practice .
He highlights that spend analysis is often seen as just a tactical reporting tool , but has the potential to become a strategic asset offering organisations fresh insights and value-driven decision-making opportunities .
“ It goes beyond merely reviewing numbers ,” he says . “ When done right , it reveals exactly where your money is going , how it ’ s being used , how it can improve supplier relationships , and where it impacts ESG and overall procurement strategies . This is what we call 360-degree spend visibility .”
By consolidating all their spend data , strengthening supplier relationships and leveraging predictive analytics , procurement teams can go further than simply tracking expenses .
This deeper insight helps uncover spending patterns , negotiate better deals and reduce costs through smarter category management , making it a key strategic tool in global sourcing .
“ Evolving spend analysis into a strategic tool also strengthens your procurement strategy ,” Robert continues . “ Instead of focusing solely on basic supplier metrics like who ’ s buying what , from whom and when , you gain a comprehensive , 360- degree view of your suppliers .
“ This shift from simple reporting to predictive analytics allows you to forecast trends and make more informed decisions by incorporating both internal and external benchmarks . “ Companies are moving toward this 360-degree visibility by either leveraging third-party platforms or building their own . Whichever option you choose , it ’ s essential to integrate AI and Gen AI into your current and future systems to maximise value .”
“These strategies help organisations use spend data to improve procurement efficiency and save money ”
ROBERT FUHRMANN , SENIOR MANAGING DIRECTOR , ACCENTURE
132 December 2024