Why Should Companies Divide and Conquer? Assessing the Benefits of Category Spend Analysis in the Mining Industry

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Aug 31, 2023, 22:00 ET

SpendEdge Helped a Mining industry player with the Category Spend Analysis

NEW YORK, Aug. 31, 2023 /PRNewswire/ -- SpendEdge, a global leader in procurement market intelligence space recently engaged with a well-known mining industry player in category spend analysis.

A growing mining industry player experienced a significant rise in losses, a decline in profitability, and an inability to efficiently track and analyze spend.

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.

To tackle this challenge, the company approached SpendEdge and leveraged their expertise in category spend analysis. Their experts worked closely with the growing company's category managers to identify shortcomings, gaps, and weaknesses in the spend analysis and management system.

With actionable recommendations and data-driven insights, the company implemented significant changes to their category spend analysis approach, strategies, and processes, and consequently significantly improved overall procurement department spend management and functioning. These changes helped the company restore overall balance, improve their spend tracking, and increase profitability substantially.

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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