Tech Spend in T&E Expenses
Business led technology implementations pose significant security and operational risks. All types and size of companies are challenged to ensure that technology purchases are processed through prescribed channels & processes. The use of IaaS, SaaS, Converged Infrastructure along with an extremely tech savvy staff, enable the Lines of Business to independently deploy technology where the spend, workload criticality, and data sensitivity can be significant.
This month we feature an example of how IT, Finance and Procurement leadership identified a wide variety of IT spend by Business Unit (BU) in their SAP Concur T&E system by deploying CIO InCight™, the automated source of truth for all Technology Vendor Spend. The blue arrows point to BU's purchasing technology directly, not in collaboration with the IT organization. (Note we highlight 3 anonymized BU's below. T&E IT spend was happening in several others as well.)
From the Senior Vice President of IT Finance:
“We knew there was tech purchased through T&E and were very surprised by the volume and transaction type that CIO InCight™ uncovered. We did not have the resources and cleansed, workable data available to identify what InCight delivers out of the box, in a matter of days. Being in a highly regulated industry it is critical for us to have checks and balances in place to ensure we are not exposed to the potential pitfalls of unmanaged, business led spend.”
One of the keys to identifying the Tech spend in T&E for this client is InCight’s core functionality that assigns a product purchased through a reseller to the OEM, Software Publisher or Service Provider aka the Vendor TruSpend™. Over 97% of the business led T&E spend, in the 3 BU's highlighted, was through resellers including the AWS Marketplace. Prior to the automation and intelligence of InCight manual, point in time, lengthy data reviews were tried that did not unmask the reseller spend.
From the Chief Procurement Officer:
“We had started a project team to discover the Technology being purchased through T&E but had limited success due to the volume of purchasing and data obfuscation. With InCight’s intelligent automation the team can now act on the data to eliminate risk and reduce costs via leverage and consolidation of both vendors and suppliers. Case in point the BU led spend was comprised of redundant purchasing (Dell EMC, Splunk, Snowflake, Tableau, Adobe) that central IT makes. Via InCight we have the complete, real-time visibility into our vendor spend, how purchased (direct or indirect) and by Cost Center and Business Unit.”
In this video clip, NASDAQ discusses how CIO InCight unmasked their reseller spend.
If you're a potential client and have any questions on this use case, please reach out to me.
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Your feedback is welcome on the InCight Insider at email@example.com.
Global Head Customer Success
Transforming Data to InCight®