Spend management is how a company plans, tracks, and controls its business spending.
Spend management is how a company plans, tracks, and controls its business spending to make sure money is used wisely and in line with budgets and policies. It covers the full journey of spend, from purchase requests and approvals to purchasing, invoicing, and reporting. Efficient spend management gives teams visibility into where money goes, helps prevent overspending and policy breaches, and makes it easier to find savings opportunities.
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