Savings and cost reduction remain a top priority for procurement

This guide explains the 5 major approaches to cost savings in procurement. In addition, you'll learn how best to identify, measure, and communicate those savings to your organization.


The complete guide to savings methods 

23 different savings methods are explained, from Hard Savings to Cost Avoidance, including:

  • Competitive tendering
  • Supplier benchmarking
  • Insourcing/ outsoucing
  • Payment term optimization
  • Maverick spend/ tail spend
  • Category structure
  • Cost avoidance, risk management...
  • and more! 

Learn how to communicate savings to Finance

Sievo experts share tips and best practices on aligning savings calculations with Finance and others. Take your savings initiatives from "ideas to cash."

  • Learn about the Sievo Savings Bridge for visibility into savings performance.
  • Understand how to report Realized Savings accurately.
  • Get insights into how Sievo can aid you in your savings initiatives.
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Meet the authors

Saana Kivimaa (Product Manager, Savings Lifecycle) and Moramay Barinoff (Product Manager, Spend) are procurement savings experts with experience from P2P processes and analytics. Together with Atro Ranta-aho (VP, Values Enablement, Customer Success), these authors provide in-depth knowledge into all things savings.