Since external spend is equivalent to 10-15% of revenue for most large organisations, even a small reduction in costs can have a massive effect on the bottom line. An ongoing project at a large UK-based company aims to trim 5% off costs in the coming year by identifying common suppliers, improving spend analysis and subsequently negotiating better terms and conditions with suppliers.
Using Experian Pandora to analyse the supplier records it was discovered that:
The analysis also uncovered some unexpected surprises:
For example, the analysis would have identified the following suppliers as being the same company.
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