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Spend Management — The Ultimate Guide of 2023

Procurement Tactics

Spend Management — The Ultimate Guide of 2023. Spend management is an important process to reduce losses and mistakes. However, how do you manage your spending? In this article, we will discuss what spend management is. What is Spend Management?

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Understanding Spend Management Perspectives: CFO, CEO, Procurement Director & Procurement Manager

NLPA (Next Level Purchasing Association)

Spend Management is a critical function within an organization, and it involves the strategic management of the company’s spending to reduce costs, improve efficiency, and enhance profitability.

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Recession planning: Why spend management matters

Fraxion

Spend managementRecession – a widely discussed concern and an impending reality, according to financial analysts and economists. Although it's uncertain whether a recession will occur or not, it's advisable for businesses to heed the warnings and prepare for economic headwinds.

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Why spend management matters

Fraxion

One thing is clear: no matter the size of your business, you need to manage the daily expenses your business incurs to operate effectively. Fortunately, business spend management solutions can help you do this. Spend managementOperating a business is expensive.

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GEP Spend Category Outlook 2023 Report

What are the risks for procurement in 2023? What should leaders do to deliver value amid uncertainties? Read the GEP Spend Category Outlook 2023 report now to build successful spend management strategies across 22 indirect & direct categories.

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Business Spend Management | Amplify Savings in Top Categories

Una

Amplify Your Business Spend Management Strategies with a GPO. Every organization, for example, spends significant amounts on key categories like IT, shipping, and office supplies. Top category savings to amplify your business spend management strategies.

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Episode 79: User-Centric MRO Spend Management with Mike Franz

Una

Episode 79: User-Centric MRO Spend Management with Mike Franz. As a manufacturing “triple threat,” Mike is now using his broad experience to transform the way small to medium sized manufacturers address their MRO spend by acknowledging changes in consumer expectations.

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How effective Tail Spend Management can drive cost savings

Procurement Software

Instead of looking at direct materials and purchased parts, the hidden opportunity is often found in effective tail spend management. There’s a perfectly logical reason that organisations go after the more “sexy” areas of spend. What is maverick spend?

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How effective Tail Spend Management can drive cost savings

Procurement Software

Instead of looking at direct materials and purchased parts, the hidden opportunity is often found in effective tail spend management. There’s a perfectly logical reason that organisations go after the more “sexy” areas of spend. What is maverick spend?

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Accelerate organizational resilience using a spend management system

Fraxion

Spend managementWhat is organizational resilience? Organizational resilience is defined as the ability of an organization to thrive, adapt, and expand during times of uncertainty.

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Spend management in property management: the perfect partnership

Fraxion

A focus on the priorities within the industry, and how spend management solutions for property management can fulfill requirements to attain success in the market. Spend management

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Fraxion recognized as a spend management FrontRunner on Software Advice

Fraxion

We’re excited to announce that Fraxion has been recognized as a FrontRunner in the spend management software category on Software Advice, a Gartner Digital Markets platform.

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John Cockerill selects Ivalua spend management to digitize all procurement processes and cover all spend in one single system

ivalua

Visit Ivalua Spend Management to find out more. The post John Cockerill selects Ivalua spend management to digitize all procurement processes and cover all spend in one single system appeared first on Ivalua

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Why The Downturn Is The Perfect Time To Improve Spend Management

Procurify

Why companies should invest in spend management during a recession. Extending runway, aggressively monitoring costs, and locking down spend are the easiest and quickest ways for organizations to adjust to unexpected downturns. Monitoring and controlling spend extends runway.

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Fraxion earns coveted spot as a spend management Category Leader on GetApp

Fraxion

We are excited to announce that Fraxion has been named a Category Leader on GetApp in the spend management software category for 2022!

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Green Mountain Technology Launches New LTL Spend Management Solution

Supply Chain Brain

Green Mountain Technology recently announced the launch of its new LTL Spend Management solution

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How does a Spend Management platform work

Claritum

This short video explains how you can control and monitor Marketing expenditure from one platform using Cloud based Spend management. Find out how a Cloud Based Spend Management platform can be used to streamline Marketing spending here. The post How does a Spend Management platform work appeared first on Claritum. Articles eProcurement Videos Cloud based spend management procurement spend Management platform

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Three Benefits of Moving Spend Management to the Cloud

Supply Chain Brain

Many organizations today are recognizing the need to shift their spend-management operations to the cloud

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Fraxion included as a Noteworthy Product on the Capterra Shortlist for 2022 in the Spend Management Category

Fraxion

We’re honored to be listed as a Noteworthy Product in the Capterra Shortlist for Spend Management in 2022 , an inclusion we couldn’t have earned without stellar reviews from our users and the dedicated team effort in developing, implementing, and supporting Fraxion.

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Transportation Insight Acquires Spend Management Experts to Strengthen Small Parcel Solutions and E-Commerce Offering

Supply Chain Brain

Transportation Insight, a North American provider of enterprise logistics solutions, recently announced the acquisition of Spend Management Experts LLC.

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What is Sourceable Spend?

Procurement Software

But how much of this is sourceable spend? And how much of what your organisation purchases is actually spend that’s addressable, or currently being actively managed? Almost every company understands and has manages what’s being sold to their customers.

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How Spend-Management Solutions Can Help Private Universities

Supply Chain Brain

For private colleges and universities, spend-management offerings can prove to be a valuable asset in the struggle to manage tight budgets

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How JAGGAER Got Started Part 2: From “Irrational Exuberance” to a Leader in Spend Management

Jaggaer

The post How JAGGAER Got Started Part 2: From “Irrational Exuberance” to a Leader in Spend Management appeared first on Jaggaer.

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Visibility and Control is the key to Complex Spend Management

Claritum

Why is Complex Spend an Issue? Many organisations continue to find their complex expense categories difficult to accurately understand and effectively control, even with dedicated experts in Indirect Sourcing, Corporate Procurement and Supply Chain Management and applying practices that have successfully brought other categories under management. 2 Why is Complex Spend an Issue? How does an organisation gain visibility and control over a complex spend category?

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How to reconcile credit card payments 10x faster

Spendesk

Spend management Finance insightsWhy do finance professionals get into this line of work?

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Improve Supply Chain Spend Management through Advanced Fleet Tracking

Jaggaer

The right software can guarantee better fleet management and more efficiency which can translate to increased profitability overall. This echoes JAGGAER’s focus on better spend management for a host of industries including the supply chain. Improved fleet management through advanced telematics can provide the benefits listed below. A study by vehicle management platform Motus revealed that commercial vehicle accidents cost $57 billion last year.

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Managing Tail Spend to Avoid “Porcelain Dalmatians”

Una

Managing Tail Spend to Avoid "Porcelain Dalmatians". 5 steps to take when managing tail spend to avoid making purchases within an organization that go underutilized or unused. How tail spend leads to “porcelain dalmatians”. Step 2: Identify spending categories.

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What is spend under management?

Fraxion

One such measure is spend under management (SUM), which enables businesses to gain greater visibility and control over their spending, vendor engagements, and adherence to defined purchasing policies. Spend managementToday, organizations are under increasing pressure to control costs and improve efficiency due to economic instability, increased competition, rising costs, and regulatory pressures.

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How to streamline expense approvals

Spendesk

Expense management Spend managementEveryone knows how much of a pain it can be to deal with workplace expenses, especially the expense approval stage.

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Top challenges & priorities for CFOs in 2023

Fraxion

Spend managementAs businesses work to recover from the pandemic, they are now facing a new wave of economic uncertainty that will test the resilience of their CFOs.

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Ivalua Launches Pre-Packaged Spend Management Solutions for Healthcare Providers

ivalua

Redwood City, CA June 16, 2020 – Ivalua, a leading provider of global Spend Management Cloud solutions, today announced the availability of a pre-packaged suite of solutions for healthcare providers. Optimize savings and provide visibility across clinical and non-clinical spend.

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Tail Spend: Your Guide to Full Spend Visibility and Savings

Una

Understanding and Taming Tail Spend. A comprehensive guide designed to tame tail spend in a way that leads to reduced risk and increased cost savings. Taming Tail Spend. This shape represents your entire procurement spend. What is tail spend? How to tame tail spend.

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How to set your finance team up for success

Fraxion

Spend managementFinance is a key department in every organization, with responsibilities that include paying salaries, accounts payable processes, budgeting, forecasting, and providing investment capital.

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How to Bring More Spend Under Management

Una

How to Bring More Spend Under Management. Pocurement professionals apply the term spend under management to measure and communicate their team’s impact on the organization at large. Some organizations define SUM as any spending that leverages preferred supplier contracts.

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The Criticality of Procurement Training in 2023

NLPA (Next Level Purchasing Association)

Moreover, “Pricing” management remains critical. They all include enhancements of: Spend Management. The underpinning of effective spend management is the capacity to formulate and execute an Annual Buying Plan.

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How HMRC research & development (R&D) tax credits work

Spendesk

Finance strategy Spend management Finance insightsSmart companies use specific tax relief schemes to invest in their own growth.

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Speed, Collaboration and Innovation – Key Words for the New Procurement Decade

ivalua

What does this mean for procurement and supplier management? Working collaboratively is often complex, involving internal stakeholders beyond the procurement function too, which highlights another critical success factor – the need for effective programme and project management.

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Ivalua Launches Pre-Packaged Spend Management Solutions for Construction & Engineering Companies

ivalua

Redwood City, CA September 2, 2020 – Ivalua, a leading provider of global Spend Management Cloud solutions, today announced the availability of a pre-packaged procurement suite for construction and engineering companies.

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319: Improve the Way Buyers and Suppliers Work Together, with Nipendo

Let's Talk Supply Chain

It was that approach – much more additive than disruptive – that really intrigued me as the new age of spend management.”

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Discretionary expenses examples for modern businesses

Spendesk

The term "discretionary spending" is common in business, but it's not always clear to all what it means. What is discretionary spending? Discretionary spending applies to costs and expenses that are non-essential. Spend management

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What is spend visibility?

Fraxion

Spend visibility refers to the system of records, oversight, and understanding of exactly how funds are allocated and spent in a company. Having real-time oversight, as opposed to tracking expenditure after the fact is invaluable and has the potential to change the course of how you manage purchasing and spending in your business, and ultimately how you profit and grow. Spend management

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Solving the Pain Points of Consultancy with CEO of Constellia, Rob Levene – Episode 54

Procurement Talk with David Byrne

The difference in spend between contingent labour and consultancies globally is incredibly small, yet … Continued.

Price 52
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Tail Spend Analysis: What Is It, How To Perform It, and the Benefits

Planergy

Clients and results More Customers We saved more than $1 million on our spend in the first year and just recently identified an opportunity to save about $10,000 every month on recurring expenses with Planergy. How to gain visibility and control of your indirect spend.