CFO: Implement pinpoint visibility and control over vendor spending

"Until now, I was not able to attain enough visibility into my vendor spend due to the way Resellers hide my true spend with OEMs. We also used to leave unnecessary money on the table when negotiating with vendors due to a lack of visibility into parent/child vendor relationships. Now I can collaborate with IT and Procurement and invest our budget more strategically. "

- Aaron Klein, Horizon Media CFO

Aaron-Klein
CIO-Market -trend-mapL1-menu-closed-x5

:30 Minutes
to SAVE MILLIONS

The Challenge:

Departmental and geographic teams, spread across the company, are able to buy merchandise and forge agreements that are invisible to Finance, resulting in a lack of visibility and a failure to leverage true vendor spend.

Expose Hidden Spending

You know that a top network technology company is one of your highest paid vendors. Yet they don’t show up as a top 10 vendor.
With CXO Nexus’ InCight™ Dashboards, you see the redundant spend you have with this vendor due to multiple resellers concealing your actual OEM spend with them.

Eliminate Excess Vendors

Using the CXO Nexus InCight™ Dashboard reveals that you are paying four unique security companies, three of whose contracts you believed had expired. Their contracts had automatically rolled over and you realize that you are paying for redundant vendor services.

Identify Business-led Spend

Business-led IT spending is growing with no signs of slowing down. 63% of organizations allow technology to be managed outside of the IT department, and more than 43% are not even formally involving IT in business-led IT decisions.

The CXO Nexus InCight™ Dashboards reveal all aggregated spend with vendors, making it easy to stay on top of all spend inside and outside of IT.

Collaborate Across the C-Suite

Reduce Risk

Reduce Risk

Ensure Regulatory Compliance

Ensure Regulatory Compliance

Cross-collaboration

Cross-collaboration

Identify Vendor Duplication

Identify Vendor Duplication

Negotiation Leverage

Negotiation Leverage

Reduce Monthly Expense

Reduce Monthly Expense

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