IT and R&D services company MindTree has launched a Spend Analysis Solution targeting the manufacturing industry. The Bangalore-based company, which has a good exposure to the manufacturing industry, said the solution will offer enhanced control and optimisation of the procurement costs for companies in the manufacturing space.
Sourcing accounts for up to 75 per cent of the total cost base in a typical manufacturing organisation. Extracting the required intelligence out of the spend data will directly contribute to cost savings and provide inputs for budgeting, planning and product strategies, the company added.
“With this solution, we hope to help our customers save costs via spend volume aggregation, supplier rationalisation, improved contract compliance and ‘requisition to pay’ process improvements,” said Vikram Amaranath, vice president and head of Manufacturing Industry Group, MindTree.
“We believe our solution is well-placed to help companies deal with the issue of controlling costs, which has become a strategic priority in the current economic environment,” he added.
MindTree’s Manufacturing Industry Group offers consulting and IT services to automotive, discrete manufacturing, consumer products and process industries.
