What is cost savings in SAP LOD-ESO - Sourcing OnDemand?

SAP Term: cost savings

• Component: LOD-ESO

• Component Name: Sourcing OnDemand

• Description: The portion of total savings realized by negotiating lower pricing with a given supplier, as structured in the master agreement.

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• Key Concepts: 
  Cost savings is a term used to describe the reduction in costs associated with a particular process or activity. In the context of SAP LOD-ESO Sourcing OnDemand, cost savings refers to the ability to reduce costs associated with sourcing and procurement activities. This is achieved by leveraging the power of SAP’s cloud-based platform to streamline and automate processes, as well as by leveraging the expertise of SAP’s sourcing and procurement experts. 
  
  How to use it: 
  SAP LOD-ESO Sourcing OnDemand provides users with a comprehensive suite of tools and services that enable them to reduce costs associated with sourcing and procurement activities. These tools include an intuitive user interface, advanced analytics capabilities, and automated workflows. Additionally, users can leverage the expertise of SAP’s sourcing and procurement experts to ensure that they are making the most cost-effective decisions. 
  
  Tips & Tricks: 
  When using SAP LOD-ESO Sourcing OnDemand, it is important to take advantage of all of the features available in order to maximize cost savings. This includes taking advantage of advanced analytics capabilities, leveraging automated workflows, and utilizing the expertise of SAP’s sourcing and procurement experts. Additionally, it is important to regularly review processes and activities in order to identify areas where further cost savings can be achieved. 
  
  Related Information: 
  For more information on how SAP LOD-ESO Sourcing OnDemand can help reduce costs associated with sourcing and procurement activities, please visit https://www.sap.com/products/lod-eso-sourcing-ondemand.html. Additionally, for more information on cost savings in general, please visit https://www.investopedia.com/terms/c/costsavings.asp.