Built for Corporate Leaders, by Corporate Leaders
CXO Nexus is bringing Visibility and Actionable clarity to what the Global 5000 is actually spending on their Vendors. There are multiple causes that result in large distortions in a company’s ability to truly know what their spend with vendors is: legacy financial systems, human error, sheer volume of transactions, a complicated channel of Resellers and VARs that conceal actual spend on OEMs, to name a few. CXO Nexus delivers real-time, unbiased, AI-driven Visibility into true Vendor Spend, purpose-built for the C suite.
We PROMISE to increase the ability of organizational leaders to make informed decisions, accelerating their ability to act through prescriptive intel, reducing cost and risk to their company.
Large enterprises spend up to billions on Vendors, often more than 50% of their annual budgets.
Shocking but true, the C suite and their teams lack visibility into what they spend with their Vendors for a myriad of reasons, including: Vendor sales practices (selling directly & through resellers), financial systems that do not provide the insight leadership needs, complex purchases and decentralized spending processes. Enterprises leave a lot of money on the table and end up with poor negotiation leverage, redundant vendors and an inability to know when contracts expire.
Lack of Vendor Spend visibility made it impossible to negotiate from strength, identify compliance risk, and eliminate excess.
Our Co-founder & CTO lived this PAIN while trying to shave 5-7% off the annual $800M spend with Information Technology (IT) Vendors when he held a leadership role at a Fortune 500 financial services firm.
The challenges he faced could not be solved at human scale. Leading him to develop an Intelligent Enterprise Solution, using AI and Machine Learning to deliver a Real Time SaaS Solution. Our marquee customers and world-class advisors attest strongly that we are solving a big pain point for Global 5000 leadership.