Free Pricing Analysis

In today’s business landscape, the role of procurement departments goes beyond managing an organization’s purchase operation. Procurement functions have evolved to include extensive work with spend data to improve procurement strategies, generate savings, and streamline the purchase process. Conducting pricing analysis lays the groundwork for successful procurement initiatives by providing transparency that can be used to develop better strategies.

CenterPoint Group’s free pricing analysis can help your business better understand its spend data to identify improvement and savings opportunities. Our unique process gives you a comprehensive overview of your company’s purchasing behavior, which can be leveraged to develop better procurement plans and achieve maximum savings.

Your Consultation Includes:

1
Member Data Gathering
2
Product Cross Reference
3
GPO Pricing Comparison
4
ROI Savings Analysis

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Frequently Asked Questions

What is a pricing analysis?

A product pricing analysis evaluates an organization’s procurement spend to find ways to reduce costs, increase efficiency, and improve vendor relationships. It can provide critical procurement information, such as the company’s total expenditure per commodity, supplier, or order value.

Why do you need a pricing analysis?

A procurement price analysis equips businesses with the necessary insights to make informed decisions and optimize their procurement strategies. According to industry estimates, supplier spending can account for 40–80% of a company’s total spend. This is a significant expense that presents an opportunity for cost reduction. Through price analysis, companies can:

Track historical spend
Garner valuable data that can be used for forecasting and future budgeting
Identify savings opportunities
Highlight procurement challenges and areas for improvement
Evaluate supplier performance and track contract compliance
Recognize opportunities for supplier consolidation to reduce costs

How do you do a pricing analysis?

A well-thought-out strategy and plan are necessary for producing reliable results from a procurement price analysis. These three steps on how to do price analysis can help you get started.

Begin by setting your objectives and identifying all sources of procurement data in your organization. This includes data from all departments that purchase products and any extra data from your suppliers.
After collecting the data, consolidate it into one database. This step also entails translating all of the data into the same format, cleansing it to remove any duplicate records or errors, and cleaning up categories and definitions to standardize them.
Once the data is ready, you can begin analyzing it. The cost of products should be compared to the vendor contracts to determine if they align with organizational objectives. A pricing analysis can help evaluate vendor performance and find room for purchase consolidation and savings opportunities.

Conducting a pricing analysis involves working with large volumes of data. CenterPoint Group simplifies the process by leveraging cutting-edge technologies and our industry expertise. Learn how we can make a difference for your business today by signing up for a free pricing analysis.

Benefits of Membership

If your company is approved, you enjoy the following benefits:

Immediate Cost Reduction
No Purchase Minimums
Access to Best-in-Class Pricing
Seamless Implementation

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