Spend Analytics & Management using Contract Intelligence and Cost Optimisation
Go beyond Telecom Expense Management, discover how Thinking Machine can enhance your digital procurement strategy with actionable spend management and spend analytics. Thinking Machine will help you uncover, optimise and monitor hidden value in your Technology and Telecommunication spend, without the need to change your suppliers.
Make your telecom category management more efficient and give your teams the right spend analytics to reduce complexity in your telecom spend.
The cost of poor contract management continues to rise, fueled by the ever increasing complexity of managing large Technology & Telecommunication supplier relationships. Research shows that on average 7 out of 10 organisations are over paying for services, continually receive inaccurate supplier invoices or contractual SLAs and KPIs have not been met by a supplier.
We believe there is a better way.
Managing procurement more effectively.
When it comes to contract and procurement management keeping track of the latest technological developments, gaining visibility into supplier costs and pricing, and identifying the best regional sourcing opportunities are currently some of the toughest procurement challenges facing technology and telecommunications procurement professionals today.
However, we believe that inaccurate invoices, missed SLAs and contract value leakage should not be major industry challenge for buyers
Through our platform we provide a wealth of analytics in procurement, meaning you can quickly identify and action technology and telecom cost saving and cost optimisation recommendations.
Optimise your procurement analysis.
Inaccurate spend management data and information silos are frustrating for contract & procurement teams.
When you have good data and can easily access the right spend management information, you can make better and faster decisions based on accurate procurement spend analysis.
Our contract and procurement platform is designed to help you make more informed decisions about your spend by giving you a single global view of all all your suppliers and contracts.
Give your procurement team the best spend management software.
Overcoming procurement challenges in enterprise contract management can be resource intensive and time consuming. This is where our contract lifecyle management system can do the heavy lifting for you.
Once our platform has quickly visualised your spend analytics and cost saving in procurement recommendations, through an innovative approval process we can turn those recommendations into immediate cost reduction actions.
We can action these recommendations directly with your suppliers on your behalf or provide your team with detailed procurement intelligence through our spend analysis dashboard.
Maximise your Procurement Transformation.
Spend Management Solution for Real-Time Spending Analysis and Contract Lifecycle Management.
You’re likely aware there are issues with your Technology and Telecom spend. People have their role to play between managing Telecom projects, overseeing the contracts, and managing day-to-day operations with the suppliers.
No-one is really able to get their arms around exactly what you’re spending money on, and articulate issues with enough data that will actually push your suppliers to improve the contract value you receive.
What’s missing is a fact base, a standard source of facts that provides context to the who/what/where of your complete technology telecom spending analysis and allows you to ask questions of your spend and contract value with detailed and consistent answers.
Without a fact-base, enterprises globally are subjected common value failures every day - Over-payment for technology and telecom services, Wrong charging from suppliers, Loss of oversight and inaccurate asset inventories of who’s using your services.
These failure points stem from dozens of specific issues and create a cycle of contract value loss from the value you expect to get from your contract to what you actually receive.
A fact base is crucial for the health of what you currently spend money on. It’s also vital for the health of your digital procurement and supplier contract negotiations.
Without a fact-base, Procurement teams have no way of knowing that a seemingly minor term in the contract may turn into the supplier being 2x as expensive as another. A recent client experienced this exact pain point, a simple item of £0.02p for a certain call type led one of our clients suppliers to have a “total cost of ownership” which was 187% higher than other suppliers our client had contracts with!
I was once asked to look into our Telecom spend and supplier contracts to find business cost savings.
I was completely blind. I had no idea what we were spending. Our suppliers were telling me they can offer me various savings or improve our contract value.
I had no idea how that applied to different cost scenarios. We searched for a digital procurement software provider who could help us with in-depth spending analysis, improve our audit trail process and uncover cost reduction recommendations. We chose Thinking Machine Systems as our solution.