The tool integrates suppliers throughout the strategic procurement process, including savings management, spend analysis, sourcing, contract management and supplier relationship management. According to BravoSolution, procurement professionals can more better manage spend performance and identify gaps between targeted and actual savings. They can draw on spend data to proactively identify new sourcing opportunities. And they can manage risk, improve compliance and increase visibility into the entire supply base, the company said. Other features of the new BravoAdvantage include contract lifecycle management, providing a direct link between contract performance and supplier value management.

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