Gartner Research

Use These Spend Analysis Best Practices to Improve Processes, Find Savings and Reveal Trends

Published: 14 March 2013

ID: G00248028

Analyst(s): Deborah Wilson , Magnus Bergfors

Summary

Spend analysis is one of the most important processes in procurement. The output is a foundation for organizing, planning and managing procurement activities. IT and procurement officers and support staff should use these best practices to create and manage a successful spend analysis program.

Table Of Contents
  • Key Challenges

Introduction

Analysis

  • Use a Specialized Spend Analysis Tool That Includes Automated Data Cleansing and Enhancement
  • Go Beyond AP as a Source for Data to Identify All Relevant Sources for Spend and Spend-Related Data
  • Create or Select a Classification Schema That Suits Your Business Needs
  • Set Up Responsibilities and Processes to Continually Update Data and Improve and Correct Classification
  • Create a Strategy for Improving Data Quality and Access to Enable Classification

Recommended Reading

©2020 Gartner, Inc. and/or its affiliates. All rights reserved. Gartner is a registered trademark of Gartner, Inc. and its affiliates. This publication may not be reproduced or distributed in any form without Gartner’s prior written permission. It consists of the opinions of Gartner’s research organization, which should not be construed as statements of fact. While the information contained in this publication has been obtained from sources believed to be reliable, Gartner disclaims all warranties as to the accuracy, completeness or adequacy of such information. Although Gartner research may address legal and financial issues, Gartner does not provide legal or investment advice and its research should not be construed or used as such. Your access and use of this publication are governed by Gartner’s Usage Policy. Gartner prides itself on its reputation for independence and objectivity. Its research is produced independently by its research organization without input or influence from any third party. For further information, see Guiding Principles on Independence and Objectivity.

Already have a Gartner Account?

Become a client

Learn how to access this content as a Gartner client.