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Most procurement organizations utilize Excel and Access as well as their data warehouses to capture, organize, and review their total spending. This is costly: From recent interviews with 70 supply management executives, we find that those that don't utilize spend analytics have 55% on average of untapped spend, miss 10% to 15% in savings in categories that have never been examined, and miss at least 6% in savings per category currently managed. Click here for more.
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