When it comes to getting spend visibility for launching cost reduction initiatives, companies are often stuck trying to decide whether to conduct the spend analysis process themselves manually or commit to implementing a spend analysis software solution - which can take months and will require heavy financial investment. And, when it’s all said and done, they are left trying to make sense of the spend data in an effort to develop an effective sourcing strategy that feels like taking a shot in the dark without having insights into the market.

Luckily, there's an alternative solution: Source One's Spend Analysis as a Service: www.SpendConsultant.com. Spend Consultant combines Source One's over twenty years of strategic sourcing experience with data visualization tools to deliver a rapid and cost effective spend analysis.

With countless spend analysis s solutions available, what makes Source One's Spend Consultant different? The answer lies within the proprietary spend classification system. Spend Consultant's taxonomy is designed specifically for procurement professionals, so your spend profile will be segmented in a way that is conducive to strategic sourcing. What’s more, the tool also includes category advice and tips for developing a go-to-market strategy backed by Source One's decades of experience and market intelligence.

We sat down with Source One's very own Senior Data Scientist James Patounas to get an inside look at the process behind developing Source One's Spend Analysis as a Service web platform. In Part One of the Developing Spend Consultant Series, we learned about Patounas' role as a Senior Data Scientist in making Spend Consultant possible, as well as the major milestones from Spend Consultant's inception to launch. In this second installment of our interview series, Developing Spend Consultant Part II: The Hurdles, we discuss the challenges encountered when developing Spend Consultant's unique spend classification system.
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