"Execution is everything"

We hear this all the time from our clients: endless spreadsheets, countless dashboards, and hours spent analyzing reports—yet cost reductions and efficiencies remain out of reach. The focus on perfecting or even just getting the right data often hinders procurement in achieving their real goal: executing cost-saving strategies that drive business results.

At CostBits, we see a common pattern—companies realize they have to invest enormous efforts into extracting, cleaning, and structuring procurement data, but the budgets and resources needed to complete these tasks are simply not there.

A significant challenge we observe is that most organizations struggle with simply getting data out of their finance systems. Extracting procurement-related data often necessitates navigating complex, outdated ERP systems, running multiple reports, and manual processes for subsequent compilation, all of which consume valuable time and resources from key staff who are NOT motivated by this task.

And even when they do manage to retrieve data, the information is often unclean, fragmented, and lacking meaningful categorization. This forces procurement teams to spend days—sometimes weeks—just trying to structure their data before they can even begin analyzing cost-saving opportunities. This might work for the “once-in-a-lifetime spend assessment to management,” but it clearly will never work for your day-to-day cost management and execution guidance.

With CostBits, you no longer need to choose between data visibility and cost execution—you can have both. We automate the extraction, cleaning, and categorization of your procurement data, eliminating the need for time-consuming manual efforts. Instead of wasting time compiling reports and responding to ad-hoc management requests, you can shift your focus to strategic decision-making and execution. Our platform ensures instant cost transparency, automated insights, and clear, actionable cost-saving opportunities so you can stop getting stuck in analysis paralysis and start executing real savings.

Few individuals in Procurement, whom we have yet to encounter, focus solely on information gathering. Most of us are highly execution-focused but know that we need strong, updated data to make smarter, faster decisions. If your team is still spending more time structuring data than acting on it, it’s time to rethink your approach. CostBits enables you to move from excruciating data exercises to execution-focused procurement.

Imagine a world where instead of being bogged down by repetitive, low-value tasks, your procurement team is actively negotiating better contracts, identifying cost-saving opportunities, and implementing strategies that make a real impact. That’s the future we help create at CostBits.

Stop wasting time wrestling with unstructured data—let CostBits handle it, so you can focus on what truly matters: executing on your cost-saving strategies..

See also our top 20 free advice for rapidly reducing supplier costs