Quantzig, a premier analytics solutions provider,has announced the completion of its latest success story that illustrates how spend analytics helped a fleet operator to reduce operational costs
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Wonder how spend analytics is revolutionizing in the global fleet management industry? Request a free proposal to know more about the use cases of spend analytics in the fleet management industry.
Spend analytics mainly focuses on achieving full visibility on procurement spend by gathering and organizing information so that it can be analyzed to draw actionable insights. Spend analytics also helps in leveraging procurement and expenditure data to analyze and understand the spending patterns of businesses. This, in turn, helps businesses to optimize organizational procurement performance by integrating information from disparate sources. Currently, UK-based fleet operating companies are focusing on leveraging spend analytics to identify and prioritize budget-saving opportunities, plus make better decisions in the future.
"Spend analytics is viewed as a part of the large domain which helps an organization to understand and identify the above-mentioned factors for the betterment of the organization," says a spend analytics expert from Quantzig.
Quantzig's Spend Analytics Engagement: Outcomes, insights, and solutions offered
The client is a leading fleet operator based out of the UK. The client was looking forward to understanding the price performance of used cars in the UK so that they can develop the existing fleet management strategies. This fleet operator wanted in-depth insights on the price performance of used vehicles and recommendations to enable maximized returns and reduce life cycle costs.
Quantzig's spend analytics experts analyzed available market information regarding used cars through demand forecasting models and sales planning. Following this, we developed test model schemes to identify factors with a high correlation with the prices of used cars to determine the best possible price. The key business outcomes included-
Reduced operational costs
Devised a robust inventory replenishment plan
Are you finding it challenging to reduce procurement costs? Get in touch with our spend analytics experts today.
About Quantzig
Quantzig is a global analytics and advisory firm with offices in the US, UK, Canada, China, and India. For more than 15 years, we have assisted our clients across the globe with end-to-end data modeling capabilities to leverage analytics for prudent decision making. Today, our firm consists of 120+ clients, including 55 Fortune 500 companies. For more information on our engagement policies and pricing plans, visit: https://www.quantzig.com/request-for-proposal
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Quantzig
Eva Sharma
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