Spend Analysis
Spend Analysis is a procurement function involving the systematic collection, processing, and interpretation of procurement expenditure data. The goal is to identify opportunities for performance improvement, cost savings, and supplier relationships strengthening, driving strategic sourcing decisions and overall procurement effectiveness.
Level 1: Emerging
At an emerging level, you are beginning to comprehend procurement spend analysis, with basic knowledge and understanding of data gathering, categorisation and deriving initial insights for informed purchasing decisions.
Level 2: Proficient
At a proficient level you are able to conduct detailed spend analysis within procurement, identifying cost-saving opportunities, supplier consolidation options, and trends to support strategic decision-making within the organization.
Level 3: Advanced
At an advanced level you are proficient in conducting deep, strategic spend analysis to identify cost-saving opportunities, improve supplier relationships, and drive procurement decision-making within your organization.
