Lack of visibility over spend and reliance on poor quality data can impact hugely on commercial outcomes and the effectiveness of procurement teams delivering on large and complex programs of work.
Skilled procurement staff can often end up spending undue amounts of time consolidating, transforming and analyzing datasets rather than focusing on value-add tasks. Even then, inconsistent cost capture can make it difficult to perform like-for-like macro analysis across a portfolio, while multiple variants of the same spend data can result in confusion and misunderstandings with suppliers.
How we can help
Through integration with supplier systems and processes, eFlow Cost Control provides a central repository to proactively manage cost compliance. It particularly applies to the management of post-contract strategic categories based on project spend, such as professional services or infrastructure categories.
The application provides greater visibility over spend at both a macro and micro level, including committed spend and forecasted future spend. The reporting functionality identifies and informs where action is required, for example, if forecast data is indicating overspend on a particular project, while an additional layer of governance is provided by the need to source approval for invoices and payment applications.
The result is improved commercial outcomes and better use of resources by reducing data collection and validation tasks. With costs reconciled in real time rather than retrospectively, conflicts with suppliers are also minimized.
Key benefits at a glance