NBC Selects Verticalnet for Spend Analysis

Television network looks to identify and prioritize company-wide sourcing opportunities

Television network looks to identify and prioritize company-wide sourcing opportunities

Malvern, PA — February 13, 2004 — U.S. television network NBC has signed up to use a sourcing solution from Verticalnet to identify and prioritize company-wide sourcing opportunities.

The network is looking to the Verticalnet project to deliver enterprise-wide spend visibility to NBC's sourcing organization by analyzing the total spend for goods and services across various NBC operations, including the NBC Network, NBC-owned-and-operated TV stations and Telemundo.

Verticalnet says its solution will help NBC create detailed spend profiles for each major category of spending, with each profile including spend information such as supplier, items purchased, location and timing.

The project entails extracting and aggregating data from several disparate systems, including accounts payable, purchasing and purchasing card. Furthermore, Verticalnet says it will provide category-specific assessments to identify previously missed sourcing opportunities and quantify additional savings potential.

"Verticalnet's expertise and experience in spend analysis technology will enable us to accelerate our spend analysis process and identify additional sourcing opportunities, contract leakage and 'maverick' spending, thereby realizing benefits faster," said Craig Glaser, vice president of sourcing at NBC.

Nathanael V. Lentz, Verticalnet president and CEO, said that while manufacturing companies have often been the first movers in adopting spend analysis solutions, he is seeing increased interest in spend analysis across all industries. "Regardless of industry, the cost of purchased materials and services is significant, and so are the opportunities for savings through strategic sourcing," Lentz said.