A standard request of today’s procurement organisations is to deliver savings. Unfortunately, not all procurement organisations are able to track their planned and realised 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 recognise it as savings.” Tracking savings is vital to procurement success, credibility and recognition in any organisation; savings tie immediately into the organisation’s financial results. Without savings tracking, procurement is mediocre at best and unable to show basic value contribution.
Equally important is having the right savings tracking technology partner to help deliver more savings. In February 2015, Gartner, Inc. released the latest Magic Quadrant for Strategic Sourcing Application Suites, positioning BravoSolution as a top procurement technology vendor for the third straight report (2010, 2013 and 2015). BravoSolution was among the most highly-placed vendors for both its “completeness of vision” and “ability to execute.”
With BravoSolution as their technology partner, clients utilise 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 realised. 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 organisational savings.
BravoAdvantage Savings Management delivers value to your organisation with:
- Objective measurement of procurement value contribution
- Cooperation with cross-functional teams
- Transparency and optimisation of working capital, cost reduction/avoidance, cash flow optimisation
- 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 organisation to stop savings leakage, meet your savings forecast, and achieve results.