"We chose Iasta SmartSource after a lengthy selection process. The internal evaluation team was immediately impressed with the flexibility of the solution, the simplicity of the wizard set up, the ease of navigation and the deep level of functionality. All of these factors combined to place SmartSource as a clear leader in the market and the best solution for our team."
The average company manages 30% of spend, that leaves 70% of spend in the hands of non-strategic sourcing experts.
Spend under management is when all sourcing and purchasing decisions of a category or a commodity are influenced by an experienced professional procurement or category expert. Spend under management does not mean sourcing experts make all the decisions. It means that sourcing experts work with key stakeholders to make the best possible decision for the category for the company.
Spend under management also means managing spend and sourcing activities through repeatable processes and scalable software systems that deliver the best control, compliance and visibility. Companies still need to spend money to be successful, but the best companies spend it more wisely by maximizing the amount of spend under management.
Iasta uses the principles of Supplier Relationship Management (SRM) to help companies manage more of their spend. Our software applications lay the foundation for essential SRM best practices.
Value Driver
Cost Minimization
SmartAnalytics®
SmartSource SRM®
SmartOptimization™
SmartContracts®
SmartSupplier®
Volume Management
Consolidate spend across various regions
Consolidate spend from different categories or subcategories
Consolidate demand
Reduce the number of suppliers
Allocate volumes across suppliers
Improve contract compliance with preferred suppliers
Price Management
Introduce supplier competition
Renegotiate prices
Analyze cost & price components
Align pricing across business units and departments
Adjust length of agreement
Negotiate directly with different tiers in supply chain
