In an environment where many organisations are suffering from “demand shock” with revenues and profits under significant pressure and at the mercy of forces which are beyond their ability to control, thoughts naturally turn to better category management or in short, the management of cash and costs.

A number of recent C suite surveys have shown that many companies have responded by slashing capex, reinforcing existing financial performance controls including client credit management, suspending dividend payments and so on. All very understandable, but this also begs the question ‘Are external cost reduction and value management levers also being pursued with the same degree of rigour?’.

If the answer to this question is ‘no’, companies should seek to implement an effective category management programme focused on the systemic identification and delivery of value-creating opportunities across their third party spend base.

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