Scout Helps Enterprises Track Over $800M in Savings with New Finance and Sourcing Tools

Scout launches new savings tracker allowing strategic sourcing teams to track savings across the business and align with finance on key metrics and company initiatives.

SAN FRANCISCO – May 1, 2018 – Scout RFP, the fastest growing digital sourcing platform, today announced the release of its new Savings Tracker, a better way for businesses to identify, track, and report cost savings. Savings Tracker, a core component of Scout’s innovative sourcing product, closes the loop between sourcing and finance. It allows sourcing teams to track savings across the enterprise, report findings to stakeholders, and better align with strategic company initiatives. In fact, Scout customers have already identified and tracked over $800M in savings to date.

In keeping with Scout’s trademark usability and clean design, Savings Tracker marries high impact with a seamless user experience. It gives sourcing teams the flexibility to configure customized savings types, track both recognized and unrecognized savings, and amortize them according to company policies. This, in turn, facilitates more accurate planning and forecasting for finance teams.

“As companies realize the value that strategic sourcing can deliver, it is critical to align finance and sourcing around a common goal,” said Chris Crane, Vice President of Product at Scout. “Using Savings Tracker, our customers are equipped to accurately track savings targets and plan future investments. This puts sourcing on the same playing field with finance and magnifies the impact they can have on the enterprise.”

Scout’s Savings Tracker addresses issues routinely faced by teams across industries, helping organizations tackle the challenges of:

  • Finding and tracking savings across the business
  • Measuring sourcing’s contribution to the bottom line
  • Aligning finance and procurement around a common goal

Customers gain access to Savings Tracker through Scout’s Pipeline tool, which allows sourcing teams to tie activity directly to business impact through a simple, collaborative interface. Following a year of banner growth in 2017, Scout customers now manage over $14 billion worth of spend through Pipeline. These updates to Savings Tracker make the offering even more robust and will help sourcing teams continue to elevate their strategic contributions to the business.

To learn more about Scout’s new Savings Tracker and their sourcing platform, register for their webinar on Thursday, May 10.