⟩ Tell us what factors would you consider if you had to produce cost savings in a short time frame?
When it comes down to it, you can look at just two aspects of spend to determine whether a category is ripe for producing cost savings in a short time frame: effort and impact. You can create a quadrant representing the four combinations of these two factors. All categories of spend identified in your spend analysis should be assigned to one of these quadrants. The categories of spend with low effort and high impact should be the first ones considered if you had to produce cost savings in a short time frame.
