What is Cost Avoidance?
Cost avoidance is implemented, for example, through successful negotiations, without which a product or a service would be purchased at an even higher price.
Cost avoidance must be posted as the success of the procurement department as well. However, the projection on the items of the profit and loss statement is not possible and seldom recognized by finance management such that many companies use this key indicator more in a neglectful manner.
InitiativeTracker 2020
InitiativeTracker is a full featured suite for planning, steering, controlling and administering of sourcing initiatives. You can use this software to plan and create sourcing initiatives, define savings targets, assign responsible staff members or teams to initiatives, determine sourcing levers, set activities and milestones, as well as monitor and analyze them easily by using innovative visualizations and dashboards.
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Orpheus Blog
Read blog articles about spend management, initiative management and data management in procurement, or other articles from our experts.
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