Evolving market dynamics and business models are making managing spend more complex than ever. The struggle is amplified when you are trying to manage multiple applications and workflows that lead to paper-heavy processes, multiple layers of sign-off, and an over-reliance on spreadsheets.
The result is a lack of visibility and control. A strategic, intelligent approach to spend management is critical to optimize spend while increasing business agility. To fund innovation and manage risk across complex supply chains, organisations need total control of each spend category as well as a comprehensive orchestration of spending and policies across categories.When your total vendor spending comes together – direct and indirect, travel and expense, services and external labor – finance, procurement and supply chain leaders get control of each spend category, better spend data accuracy and visibility, improvement in management of complex regulatory and internal compliance requirements and better spending behavior.