Using ServiceNow For Benchmarking Strategies That Secure Better Pricing

Benchmark Strategies

Price benchmarking is emerging as one of the most effective tools for ensuring organizations secure optimal pricing. By comparing supplier prices and leveraging real-time analytics, procurement professionals can confidently align spend with organizational goals—and avoid overpaying by as much as 20%.

Unlock More IT Cost Savings Potential with ServiceNow Source-to-Pay

Total Cost of Ownership

Effective cost management is crucial for every successful business. It ensures resources are utilized wisely, budgets are adhered to, and financial goals are achieved. One of the biggest challenges for running IT like a business has been assigning the cost of IT to the consumers of IT.

Maverick Spend: What It Is And How To Control It

Maverick Spend

Maverick spend arises when employees bypass standard procurement channels, often due to two key issues:

Complex Processes: Employees find traditional systems cumbersome and time-consuming for simple orders.

Urgency: Employees make out-of-process purchases to meet immediate needs.