Cost control is all about savings and KPI tracking.
Taking feeds from Spend Analytics and Supplier Performance, Cost Control tracks realised savings based on collecting detailed usage information either from ERP or directly from suppliers. This module also empowers users to track KPIs, item and supplier compliance to ensure you are getting the most out of the current contracts in place. This module provides CPOs and CFOs with the comfort that savings identified through the sourcing phase are being delivered to the P&L.
Cost Control facilitates the tracking of actual savings and KPIs as well as supplier and item-level compliance:
- Savings identified through sourcing phase cannot be tracked through the P&L
- KPIs not being tracked or actively used to manage suppliers even though they are contractually obligated to provide them
- Compliance on non-core items and non-contracted suppliers difficult to track
- Enables item-level tracking of actual spend to track realised savings and provide the basis for taking steps for any corrective action
- KPIs are tracked within the system; dashboards guide users to missed KPIs and failing suppliers
- Link to Spend Analytics helps to find non-compliance supplier spend
- Item level data helps to show new items or non-catalogue items which may require further sourcing efforts
eFlow Cost Control allows monitoring of actual savings, compliance and KPIs in real time and highlights opportunities to improve the service quality