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There are numerous ways of looking at return on investment (ROI). It’s often easier to calculate direct, hard-dollar savings where savings implementation is tied to the specific process or initiative (e.g., implementing savings from a strategic sourcing program, reducing headcount in accounts payable through AP automation and e-invoicing, extending payment terms to a supply base, etc.)
But spend analysis ROI is trickier to calculate given that analytics are an enabler — a means which points to the end — rather than the end itself. Join Jason Busch, founder and head of strategy at Spend Matters and Tom Beaty, CEO and founder of SpendHQ, as they discuss ways of thinking about spend analytics and supply analytics ROI, and as important, how to justify these investments to the business based on their own experience working with procurement organizations over multiple decades.
We’ll provide:
- Philosophical ammunition to help you think about how to argue in favor of ROI for spend analytics with your colleagues
- Related case studies
- Elements of an ROI framework for spend analytics directly
- Suggestions on how to justify spend analytics as a magnifier on other elements of procurement talent and technology investment
- And much more!