Standardizing Procurement Costs for an Oil and Gas Industry Firm

LONDON–(BUSINESS WIRE)–Dec 28, 2018–SpendEdge, a well-known procurement intelligence solutions provider, has announced the completion of their .

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Cost analysis study for an oil and gas industry client (Graphic: Business Wire)

The client is one of the largest refiners and marketers of oil products in the U.S., with an annual revenue of $2.1 billion. With supply chain complexities skyrocketing, companies are facing challenges in delivering projects within a specified budget, the client realized the need to leverage a cost benefit analysis engagement to gauge the impact of each cost factor on the overall business growth. Additionally, by analyzing the market cost, the client wanted to better understand the demand for commodity prices and determine the price that the end-users were willing to pay for their products.

According to the experts at SpendEdge,“By following suitable cost analysis methods, organizations will be in a healthier position to avoid potential biases that lead to faulty business decisions.”

Want to know why SpendEdge is the market leader when it comes to procurement and cost analysis solutions?to access our complete portfolio of procurement solutions for free.

With the help of SpendEdge’s cost benefit analysis, the client was able to list out the positives and negatives of their investment. During the course of the cost analysis engagement, the oil and gas industry company was able to identify the technology trends and innovations shaping the market’s landscape and gain more relevant insights into the buyers’ behaviors. The cost analysis report also helped them to analyze different scenarios while making accurate investment decisions. Moreover, the cost analysis solutions also helped them make minor tweaks in their investment plan to drive maximum savings and improved business efficiency.

 

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