Recently we had a discussion with Brian Daniels, CEO at Spend Radar. This is the continuation of an conversation we had with Rod True, COO, in February 2010, giving us an update on the direction of their organization and elaborating on new offerings.
This was an energetic and informative interview. We would like to thank Brian for taking the time to speak with us. Spend Radar is a growing organization with comprehensive capabilities in their product line. They are a company to put on your ‘watch list’ and invest the time to determine if their offering can fit a need in your organization.
A few years ago, Spend Radar’s client base was predominantly comprised of global organizations in excess of $5B in sales with multiple systems. Now they are finding that smaller companies with the same issues are part of their target market. Spend Radar’s smallest client is a $4M regional bank and the largest is a fortune 100 company. Their clients are in many industries such as life sciences, financial services, health and technology.
Brian outlined the progress with full ‘Spend Execution’. He is very excited about this offering and feels it is taking spend analysis many steps forward. It is in the beta stage and will be able to help companies make decisions looking forward instead of the classic approach of reviewing historical data. The plan is to roll out on a limited basis in the Summer of 2011. There are many reporting features and alerts that will frame areas of non-compliance and track savings and spend.
Spend Radar has successfully implemented Project Excellence: a formal implementation methodology that is structured and consistent. The Spend Radar staff goes through a certification process leveraging internal and external training and that focuses on delivery methodology, quality, meeting expectations and problem solving.
SpendZen Spend Radar’s blog and has generated a great deal of excitement and activity. They utilize it to showcase both clients and associates. The blog following continues to grow and enhances interaction with current and potential clients.
We asked Brian if he noticed any change in their clients’ behavior due to the events in Libya and Japan. He has found many are looking for alternative methods and sources for products and freight costs. Companies are trying to continue their businesses utilizing alternative suppliers if necessary.
Spend Radar is continuing to expand globally with clients in 15 countries. In the coming year they will be focusing on the domestic and international opportunities including those in Europe and Asia