Best Procurement Spend Analysis Solution

Understanding and managing spend is critical to leveraging your corporate buying power and increasing your bottom line. Knowing at the granular level how, where, and with who your company is spending its money are essential to achieving desired procurement results. Moreover, organizing spend in a manner that helps maximize leverage and value while mitigating risk just makes sense.

Why do so many organizations struggle with spend analysis? For one, it’s harder than you might think to execute well. Despite the many advances in machine learning and AI when it comes to spend data, companies still are challenged with capturing all available spend and organizing it in a manner that aligns with how suppliers in the market respond to RFPs. Put simply, the GL code and description are not created for organizing vendors and managing sourcing events.

The goal of EC Spend is to serve as a technology and services partner to take the pain out of managing your spend data and to provide actionable insights in the most efficient and effective way possible. We are completely agnostic to your existing data environment and have worked with thousands of data systems across most industry segments.

Spend solutions for & by practitioners like you

Our teams have experience in the RFP trenches and partner with sourcing leaders to accelerate the impact of digital & procurement transformation initiatives – all while improving results and supplier performance

Meet Our Team

Client Results

Improving sourcing results, supplier engagement, and procurement ROI with client-driven enhancements

Excel-friendly upload/download the majority of project content

Numerous types and unlimited template possibilities for rapid and efficient re-use

Supplier input controls – receive desired content in preferred formats

Open API allows for turn-key integration with all other data systems

Automated reminders to ensure suppliers stay on track

Rich specification management – upload thousands in just a single zip file

Optional gating for confidentiality & managing Ts and Cs up front

Artificial Intelligence (AI) & Machine Learning (Text Analysis & Navigation)

Solutions that help procurement & sourcing teams…

Expand value rapidly to new departments and categories

Shorten traditional RFx & sourcing cycle times by 40-60%

Drive average annual savings improvements of 15-30%

Generate actionable insights & transfer more knowledge

Increase influence & spend under management by 20-40%

Align more effectively & securely across data systems & stakeholders

Discover how leading procurement organizations leverage our solutions and team as an extension of their own to optimize value & results

Case Studies

EC Spend is our spend analysis and category analytics module. It is compatible with all of our existing solutions as well as virtually any external data source systems. EC Spend provides procurement, sourcing, supply chain, and finance leaders with an opportunity to achieve 100% visibility to spend organized specifically for their goals.

If you are interested in increasing your speed to impact and ability to find savings opportunities, EC Spend might be worth evaluating.

RECENT SOLUTION BENCHMARKS

Experience dynamic technology that helps put an end to…

Impossible–to–find project data you’ve used previously

Internal audits that are painful because of lack of documentation

High costs due to data integrity & integration challenges

Stakeholder & supplier frustration with the tools or process

Are you able to spot maverick spend early and optimize leverage with your preferred vendor partners?

EC Spend is very flexible and completely designed to work with your procurement team’s existing solution set. The capability of the module is centered on considerations for transforming your existing raw data from all sources to an actionable roadmap to optimize savings and performance from your suppliers.

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Testimonial

"We monitor the market and evaluate other options on a regular basis but we still have not found a product that is this easy to use ‐ so we stay!"

CLIENT TITLE	INDUSTRY	RELATIONSHIP
PROCUREMENT LEADER	MANUFACTURING & DISTRIBUTION	CLIENT PARTNER

CLIENT TITLE

PROCUREMENT LEADER

INDUSTRY

MANUFACTURING & DISTRIBUTION

PROCUREMENT LEADER

CLIENT PARTNER

"I have been in wireless for 12 years and this is the best RFI/RFP process that I have experienced, streamlined, concise, and easy to understand."

CLIENT TITLE	INDUSTRY	RELATIONSHIP
VICE PRESIDENT, SALES	TELECOM	GLOBAL SUPPLIER

CLIENT TITLE

VICE PRESIDENT, SALES

INDUSTRY

TELECOM

PROCUREMENT LEADER

GLOBAL SUPPLIER

"They understand what you need and how you want to receive it because they've lived in your world."

CLIENT TITLE	INDUSTRY	RELATIONSHIP
SENIOR ANALYST	SPECIALIZED CONSULTING FIRM	CLIENT

CLIENT TITLE

SENIOR ANALYST

INDUSTRY

SPECIALIZED CONSULTING FIRM

PROCUREMENT LEADER

CLIENT

"Your software is great! I have been involved in many of these (e-sourcing negotiations) and in fact just finished one last week for a Fortune 20 Healthcare Company. Your software is much less complicated and more user-friendly than any of the other ones I have used."

CLIENT TITLE	INDUSTRY	RELATIONSHIP
SALES EXECUTIVE	MANUFACTURING & DISTRIBUTION	SUPPLIER

CLIENT TITLE

SALES EXECUTIVE

INDUSTRY

MANUFACTURING & DISTRIBUTION

PROCUREMENT LEADER

SUPPLIER

TAKING INSIGHTS TO ACTION WITH EC eSOURCING

Once Potential Savings is Identified

Go Get it with EC eSourcing

The output of the spend analysis process should hopefully allow you to develop a high-level plan to capture improved pricing along with consistent or better service levels from your suppliers.

To many procurement organizations, spend analysis is simply a view of data from their ERP, AP, or BI solution that is filtered and organized into accounting or general ledger codes. To others, it is a process of transforming all spend data to optimize the value procurement can deliver. This is the process that can bypass poor PO data management or inconsistent data entry in certain parts of the company. This is the process that can take thousands of SKUs and understand that they belong in an Office Supplies category versus bought individually. If done correctly, this process is strategic and should help give procurement a roadmap to find value opportunities.

EC eSourcing (formerly FlexRFP) has been recognized as a top customer and value leader in SpendMatters’ benchmarking study since 2017. A big differentiator in EC Sourcing Group’s approach to sourcing technology is how it implements and delivers its solutions. Based on its heritage as a technology company built by procurement practitioners, there are a host of details integrated in the solution specifically engineered for and by procurement professionals like you.

EC SOURCING ALSO HAPPENS TO BE ONE OF THE MOST MATURE IN CAPABILITY WITH A SET OF CLEVER FEATURES THAT ONLY COMES FROM THE BATTLE SCARS OF DECADES OF MANAGING SOURCING EVENTS

— Magnus Bergfors & Michael Lamoureux, Spend Matters

EC Sourcing Group’s configurable solutions are flexible and currently serve many procurement operations leaders across industry. Retailers, food companies, healthcare organizations, education organizations, manufacturers, financial & investment companies, technology organizations, and select government contractors leverage our solutions for their needs.

As with all of our solutions, EC eSourcing is compatible with any of our modules as well as your existing ERP, CRM, expense management, vendor management, eProcurement, transportation management, or other financial & supply chain applications which it can connect with via open API.

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Featured Resources

BLOG POST

Finding Procurement Savings Hidden in Your Financial Reports

Finding Procurement Savings Hidden in Your Financial Reports…

EC Sourcing Group ranks as a ‘Value’ & ‘Customer’ Leader in Latest eSourcing Benchmarking Study

eSourcing Results & Methodology Review

The Trusted Advisor

E-Book Series: Procurement Stakeholder Alignment

Digital-related transformation projects have marched up the priority list with a marked increase in departments looking to leverage advancements in technology to accelerate value.

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