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Customer background and challenges

A UK-based pharmaceutical giant with a global footprint reports an annual turnover of $2bn, with a workforce of over 3,600 professionals spread across 120 international locations. Despite impressive inorganic growth through strategic acquisitions, the company faced the complexity of managing data scattered across 35 ERP systems spanning various regions and countries.

The client had 44 separate instances across the 35 ERP platforms, using 20 different languages and 8 currencies. Manually consolidating spend data across multiple instances using spreadsheets was time-consuming and challenging for the in-house team, hindering accurate reporting and analysis.

Lack of holistic spend visibility made it impossible to:

  • Achieve finance and procurement savings targets.

  • Engage with business stakeholders to negotiate procurement and category strategies.

  • Get accurate, real-time analysis and reports.

Data cleansing
Spend Overview
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The Solution

Spendkey was selected as the spend analytics solution of choice among alternative platforms, based on proof of value results after a 3-month pilot. Spendkey unified the customer’s spend data and radically improved its integrity, delivering in-depth analysis of categorised data to provide multidimensional spend insights and trends.

  • Ingested raw finance data from 44 instances across 35 different ERP systems in 20 languages and 8 currencies using advanced AI technology.

  • Processed 200,000 transactions to create a consolidated, cleansed, categorised and enriched data set, which is now the single source of truth across the organisation.

Good Company

DESIGNED TO DELIVER

Benefits

Insights from spend data helped the customer to:

Identify untapped rebate opportunities 

Spendkey helped the customer to uncover $1m in unrealised rebate potentials.

Consolidate & optimise  supplier base

Visibility into parent-child relationships helped reduce supplier base by 15%.

Achieve deeper spend insights

Spendkey delivered real-time multidimensional spend by categories, suppliers, location, and more.

Uncover immediate cost-savings

Buying behaviours and tail spend identified to reveal hidden savings opportunities.

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Project Name
Project description
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£25m

In data-backed savings  opportunities identified

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100x

Spend insights

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Time Savings

Reduced reporting cycle from 4 weeks to on-demand

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Unified View of Clean Data

Simplified analysis and decision making with a consolidated view of  spend data

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Key takeaway

  • Spendkey ensures a consistent, complete and trustworthy source of truth is accessible across the customer’s organisation. Now, all budgeting and reporting is faster and more accurate with reliable data from Spendkey.

Find out how your organisation can:

  • Automate time-intensive and error-prone manual data consolidation and cleaning processes to create a single source of truth.

  • Empower leaders with real-time insights to optimise resource allocation, support informed business decisions, and enable swift action.

  • Get visibility into supplier costs, contracts, spend trends and market insights, empowering you to reduce risks, control costs and improve supplier relationships.

  • Drive collaboration with a real-time view across the business.

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Key takeaway
Working with the best

It's great to see that Spendkey understands our underlying data quality challenges or issues and has ready-made solutions to address them. Often, many providers take a helicopter view that is detached from reality.

Senior Finance Director
A Multinational PharmaCompany
source-re
Working with the best

It's great to see that Spendkey understands our underlying data quality challenges or issues and has ready-made solutions to address them. Often, many providers take a helicopter view that is detached from reality.

Senior Finance Director
A Multinational PharmaCompany
source-re

Spendkey Wins the Start-Up Award at Global Procurement & Supply Chain Awards 2024  

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Spendkey Wins the Start-Up Award at Global Procurement & Supply Chain Awards 2024  

Read more