University of California’s $200 Million Secret: Spend Analysis
Creating a holistic view of organization-wide spend
The University of California is comprised of 10 campuses with 234,000 students and 210,000 employees and faculty members. So it’s no surprise the UC system manages as much as $7 billion in spend across all of its campuses.
In 2012, the school set an ambitious goal of $200 million in annual savings over the course of five years. To understand where spending processes could be changed in support of that goal, UC first had to develop a much deeper and more comprehensive understanding of its spending. The university made improvements to system-wide purchasing and payment data to ensure that the data from all departments across all campuses flowed through the Spend Analytics solution.
Today, not only has the savings goal been reached, the school’s analytics capabilities paint a clear picture of categorized spend both locally and across the system, and provide key insights into its purchasing patterns and supplier base.
Read the success story to find out how the University of California:
- Classified and normalized all spend data to create an accurate and consistent data set—a single source of truth
- Beat its $200 million savings goal in fiscal year 2015-16—by $69 million
- Ensured data accuracy to better make informed, actionable decisions