Spend Reduction & Management
A chemical & life sciences company needed help with managing and controlling the $3 billion spend incurred by its 20 business units on business services, including information technology, advertising, marketing and management consulting, they chose iServiceX.
What we did:
iServiceX implemented a spend reduction strategy, developed best practices and capabilities to manage enterprise spend, and integrated performance measurement systems to track return on investment for those categories of expenditures.
The company reduced the overall expenditures by $60 million and now has a better handle on enterprise spend, where spend is track by category and measured for targeted return on investment. The Center-Led Procurement organization is now perceived to be a business partner with the SBUs. Overall, the corporation now has the ability to spend with wisdom and manage with information to assure that their Professional Services categories are returning the value that they were expected to return.