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BravoSolution Reports Heightened Demand for Spend Analysis “Plus”

Business Wire- 12/7/2010 10:07:00 AM EST

BravoSolution Reports Heightened Demand for Spend Analysis Plus

( BW)(IL-BRAVOSOLUTION)(.) BravoSolution Reports Heightened Demand for Spend Analysis Plus

Customers Gain Higher Value with Full-Circle Performance Tracking Driven by Spend Analysis + Supplier Performance Data

Based on recent customer demand, BravoSolution, the leader in spend analysis and high definition sourcing, sees the rise of a game-changing approach to meeting todays procurement challenges: leveraging deeper intelligence that combines spend analysis with supplier performance data to fuel a more sophisticated approach to understanding and acting on supplier value. BravoSolutions "full-circle performance tracking" increasingly drives better spend strategies and accelerates the time to capitalizing on those strategies by analyzing high-performing and low-performing suppliers in the context of overall spending details and relationships.

Combining advanced technologies and strategic services to tackle the increasing complexity of understanding supplier value, BravoSolution consistently helps customers capture 5-10% more savings than with technology alone. Its hybrid approach to the procurement discipline has been honed, tested and proven to deliver value through thousands of engagements with healthcare, industrial manufacturing, consumer goods organizations around the world.

BravoSolutions highly focused engagements deliver:

  • Enterprise-wide visibility and a common category platform for true spend understanding with spend analysis, including United Nations Standard Products and Services Code (UNSPSC) categorization and BravoSolutions best practices taxonomy
  • Identification of immediate and relevant opportunities for savings, tapping BravoSolutions team of category and supply market experts
  • Action to capture those savings quickly and cost-effectively, with cloud-hosted eSourcing events

Competitive pressures and continued uncertainty in the global economy require a significantly more sophisticated approach to analyzing supplier value and exploiting that value, said Marc Bergeron, General Manager, US at BravoSolution. Cost and performance must be considered together when reviewing opportunities to improve the return on spend, and once identified, the opportunities must be captured full-circle performance tracking makes that possible.

How Much Are You Leaving on the Table?

Conn.-based Gartner Research estimates that when technologies, such as spend analysis and e-sourcing solutions are used without the benefit of expertise, organizations give away as much as 30 cents on every dollar spent. For many procurement teams, unfortunately, the category and market expertise needed to accelerate and maximize sourcing results achieved with tools no longer resides within the organization. Exacerbating the challenge is the winner take all approach to supplier negotiations that focus solely on cost reduction above all measures of value.

A recent whitepaper, Sourcing in the 2010s: The Formula for Success from BravoSolution outlines the discipline for sourcing excellence needed to overcome these obstacles. The report discusses the critical role that technology plays in automation, analysis and decision support, and the types of expertise needed to truly turn enterprise-wide visibility into supply strategies and tactics that support short- and long-term business goals.

BravoSolution, the spend analysis company, offers the worlds finest collection of supply chain solutions, including innovative tools for eSourcing, supplier management and high definition sourcing. For more information on BravoSolutions spend analysis solution, visit www.BravoSolution.com.

About BravoSolution

Your company spends money across multiple categories of items and in many different ways. As procurement professionals, you are accountable for delivering demonstrable improvements to your company's financial performance. To achieve your performance goals, your entire team: sourcing, vendor, contract, and production managers; needs to work together to determine the best way to manage every single category to maximize its contribution to your companys bottom line.

Analysts have seen that the right blend of skills, process, and technology improves a company's financial performance by 30 cents on every dollar spent. In their search for a partner that can help them achieve this level of excellence, companies turn to BravoSolution.

CONTACT:

BravoSolution
Greg Hakim, 617-969-9192
ghakim@corporateink.com

KEYWORDS: United States North America Illinois

INDUSTRY KEYWORDS: Technology Data Management Supply Chain Management Software Transport Manufacturing Logistics/Supply Chain Management Other Manufacturing Retail

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