Single Source of Truth Saves Time and Money
Discover how a leading UK pharma company identified savings of £25M with spend insights from Spendkey.
Discover how a leading UK pharma company identified savings of £25M with spend insights from Spendkey.
END-TO-END VISIBILITY
A UK-based pharmaceutical giant with a global footprint reports an annual turnover of $2bn, with a workforce of over 3,600 professionals spread across 120 international locations. Despite impressive inorganic growth through strategic acquisitions, the company faced the complexity of managing data scattered across 35 ERP systems spanning various regions and countries.
The client had 44 separate instances across the 35 ERP platforms, using 20 different languages and 8 currencies. Manually consolidating spend data across multiple instances using spreadsheets was time-consuming and challenging for the in-house team, hindering accurate reporting and analysis.
Lack of holistic spend visibility made it impossible to:
Achieve finance and procurement savings targets.
Engage with business stakeholders to negotiate procurement and category strategies.
Get accurate, real-time analysis and reports.
END-TO-END VISIBILITY
Spendkey was selected as the spend analytics solution of choice among alternative platforms, based on proof of value results after a 3-month pilot. Spendkey unified the customer’s spend data and radically improved its integrity, delivering in-depth analysis of categorised data to provide multidimensional spend insights and trends.
Ingested raw finance data from 44 instances across 35 different ERP systems in 20 languages and 8 currencies using advanced AI technology.
Processed 200,000 transactions to create a consolidated, cleansed, categorised and enriched data set, which is now the single source of truth across the organisation.
DESIGNED TO DELIVER
Insights from spend data helped the customer to:
Spendkey helped the customer to uncover $1m in unrealised rebate potentials.
Visibility into parent-child relationships helped reduce supplier base by 15%.
Spendkey delivered real-time multidimensional spend by categories, suppliers, location, and more.
Buying behaviours and tail spend identified to reveal hidden savings opportunities.
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END-TO-END VISIBILITY
Spendkey ensures a consistent, complete and trustworthy source of truth is accessible across the customer’s organisation. Now, all budgeting and reporting is faster and more accurate with reliable data from Spendkey.
Find out how your organisation can:
Automate time-intensive and error-prone manual data consolidation and cleaning processes to create a single source of truth.
Empower leaders with real-time insights to optimise resource allocation, support informed business decisions, and enable swift action.
Get visibility into supplier costs, contracts, spend trends and market insights, empowering you to reduce risks, control costs and improve supplier relationships.
Drive collaboration with a real-time view across the business.
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