A standard request of today’s procurement organizations is to deliver savings. Unfortunately, not all procurement organizations are able to track their planned and realized savings. Just ask your CFO and she or he will quickly state, “If you can’t see it, you can’t measure it, and you can’t recognize it as savings.” Savings tracking is vital to procurement success, credibility and recognition in any organization; savings tie immediately into the organization’s financial results. Without savings tracking, procurement is mediocre at best and unable to show basic value contribution.
Having the right savings tracking technology partner in place to help deliver more savings is crucial. With Tejari as their technology partner, clients utilize the most advanced capabilities with BravoAdvantage, the world’s strategic procurement platform. BravoAdvantage Savings Management provides organisations with a clear picture of how much of their targeted savings are actually realized. The tool reports on any variances from the sourcing plan—including deviations from contract terms or disparities between forecasted and actual spend volumes—to help identify any issues that may have negatively affected organizational savings.
BravoAdvantage Savings Management delivers value to your organization with:
- Objective measurement of procurement value contribution
- Cooperation with cross-functional teams
- Transparency and optimization of working capital, cost reduction/avoidance, cash flow optimization
- PBIT/P&L impact, capex/opex concepts
- Reduction/avoidance of savings erosion
Don’t let another day go by without applying BravoAdvantage Savings Management in your organization to stop savings leakage, meet your savings forecast, and achieve results.