In order to be able to navigate optimally in procurement and purchasing, it is important to have an overview of your company's spend, i.e. all its costs. Through a spend analysis you can identify who buys, what is bought, who is bought by, at what price, etc. This knowledge is one of the cornerstones to be able to get an overview of what initiatives you can put in the lake, who your suppliers is how many suppliers you have, where you have to channel your resources to etc.
A spend analysis can be done in the good old-fashioned way, where spend data is collected manually, but it can also take place through the implementation of an application that can make life a little easier for you.
In relation to ROI (Return On Investment), as well as the time it takes to implement such an application, Gartner Group has made a study of various applications. The study shows that a spend application is both quick to implement and ROI is relatively high in relation to the costs and in relation to how many are affected by the implementation. This is what one might call a Quick Fix.