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.
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.