Analyze spend
Analyzing spend helps you understand your procurement performance relative to the market. By understanding your performance, you can then explain your success following and tender and help to define expectations of performance in the future.
Determine future budget
By determining future budget, leadership can set clear goals and expectations for stakeholders within the organization, the procurement department and the budgeting process itself.
When you understand how the market is developing, you can plan what that means for your procurement strategy and overall budget.
