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KNOWLEDGE MANAGEMENT TAGS
"Spend Management", "Technology"
Spend analysis ROI unclear, claims survey
More than half of British finance and procurement professionals don't know the return on investment of a spend analysis system.
The survey into 100 procurement and finance professionals paints a worrying picture of the industry, as 51% of respondents don't know when - or even if - a spend analysis system should deliver a return.
On top of this, data quality continues to be a concern for procurement and finance professionals. More than a third (34%) said that a lack of data quality was the main obstacle to a clear and accurate view of their companies' spend.
“The findings from our survey reveal that spend analysis vendors are taking advantage of procurement leaders who, confidentially, admit that they do not know when they should realise a return on investment,” said Charles Clark, chief executive of Rosslyn Analytics. “Spend analysis is such an important business-critical tool for organisations that Rosslyn Analytics challenges vendors to become more accountable to customers, including transparently stating when their solutions will deliver returns on investment.”
Procurement Tags - Spend Management, Technology
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