Real-time Intelligence and Insights
Indirect spending occurs within hundreds of unique supply markets. Each has different cost structures, unique market dynamics and often hundreds – if not thousands – of alternative providers.
Because Procurian® works across dozens of companies, we are constantly immersed in over 350 supply markets and have access to real-time ground intelligence. Through this frequent market presence and formal monitoring, we bring intelligence on supply market trends, recent price points, input cost changes, supplier capabilities and attributes, and more. These insights provide you with an informational advantage.
Supply Market Insights:
Steeped in their domain areas, our category specialists have extensive knowledge of the markets in which they operate – from the competitive landscape to market dynamics and economics – including profitability and cost structures. Through ground intelligence supplemented with formal research, these specialists actively monitor markets and indicators for key changes, such as new market entrants, new technologies and innovations, geopolitical risks, regulatory changes and M&A activity.
Through tens of thousands of supplier interactions each year, we have amassed an ever-growing knowledge base of suppliers and their capabilities. We augment this experience-based intelligence with specialized third-party data regarding supplier financial performance, credit rating data, diversity data and capacity data.
Price, Cost & Commercial Intelligence:
With over 6,000 sourcing and bidding events per year, we have a real-time intelligence on market rates and pricing trends across frequently sourced categories. Further, we constantly monitor over 2,000 indices (e.g., U.S. Bureau of Labor Statistics, Producer Price Index) and correlate the impact of input-cost changes to pricing. Finally, we have insights into the most effective and innovative commercial structures for each category.
We help clients execute and manage tens of thousands of contracts annually. Through this process, our dedicated category contracting specialists stay abreast of what protections are important for all major buying categories and have captured best-in-class terms and conditions for each. With this intelligence, we help develop or modify contract templates for each client that adhere to their specific requirements and risk tolerances, ultimately accelerating contract execution and value realization, while optimizing terms and conditions.
Spend & Savings Benchmarks:
In the course of analyzing and managing billions of dollars of spend each year, executing thousands of sourcing and bidding projects and rigorously managing and measuring compliance, we have formulated spend and savings benchmarks by industry and category, which allows us to set realistic targets and drive continuous cost improvements.