It's Bring More Spend Under Management

Spend Management

Spend management means managing the end-to-end procurement process from opportunity to savings realization. It means identifying organizational spend that must be brought under management, building a strategic savings plan, and actively taking control of that spend to drive realized savings.

Procurement software platform that delivers comprehensive spend management capabilities, including spend analysis, contract management, category management, savings tracking, supplier management, sourcing and procure-to-pay.

Spend Management turns potential savings opportunities into structured savings projects, with clearly defined milestones and performance metrics. At the end of every sourcing event, you can capture actual performance, measure against savings targets, and then report it to all the stakeholders.

Flip sourcing events with winning bids and suppliers into contracts at the click of a button, ensuring that the contract is based squarely upon the terms offered, to bring that spend under management.

Spend Management can reveal uncontrolled, unmanaged spend based on reports and business intelligence drawn from all procurement activity across the enterprise. Reduce the time, effort and paper used to create, manage and monitor contracts. Boost contract utilization and increase spend compliance. Monitor thousands of suppliers; use scorecards, surveys, alerts, status and summary reports; track, measure and optimize supplier performance.

Management function ensures that all the hard work that goes into negotiating optimal contracts effectively translates into realized savings. Supplier management functions can, from day one, build a program of performance measurement, feedback and action plans designed to ensure the goals for the project are realized.