Low & Bonar are a FTSE 350 global leader in the design and manufacture of performance materials across a wide range of industrial applications. Having initially engaged with Vendigital on a strategic cost improvement programme, Low & Bonar recognised a need to efficiently aggregate spend data across disparate ERP/MRP systems to support ongoing supplier cost and performance management within the business.
Having assessed the wider market offering, Low & Bonar opted to partner with Vendigital for the provision of their SaaS based Spend Analytics application. In order to embed the tool, the Vendigital team worked closely with both central and site stakeholders across Low & Bonar in order to collate, cleanse, categorise and upload spend data into Vendigital’s cloud based Analytics application.
‘Based on their procurement consultancy heritage and understanding of the complexities of our supply chain, partnering with Vendigital was an easy decision’ says Willy Glaude - Group Purchasing Director at Low & Bonar. ‘With near real time access to spend data and powerful in-system visualisation and analysis capabilities, Spend Analytics is helping us to make better decisions, faster.
Due to the nature of their business, Low & Bonar operate in complex, volatile supply markets where the balance of power does not always reside with the buying company. Having recently implemented the Vendigital R.I.S.C. application, Low & Bonar now have a powerful platform to tracking PPV, managing business compliance, monitoring supply chain risk and much, much more.
However, the journey does not end here as the business now looks to embed a one-ERP environment. ‘The implementation of Spend Analytics has not only given us rapid insight into our spend’ says Willy, ‘the work undertaken in both item and vendor master data management has meant that procurement are well positioned to migrate over to the group-wide ERP solution.
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"The process has given us greater awareness of the global supply base and market prices, as well as lower costs."