What is meant by Spend Analysis & Spend Management?
Spend management refers to spend and procurement management in the Anglo-American sphere. Spend management is often used in combination with Savings Management.
Spend management improves the transparency of the procurement volume as well as pricing and quantities of all areas of the company worldwide. It serves the structured analysis of supplier expenditures with the goal of identifying and monitoring cost reduction and optimization as well as taking appropriate steps, e.g. to:
- Optimize the supplier base,
- Execute bids for certain potential fields,
- Introduce pricing negotiations,
- (Re)negotiate framework agreements or
- Optimize working capital
With its standardized ERP interfaces you can connect the spend cube of SpendControl within a short time frame to any ERP system (e.g. SAP, Navision, Oracle etc.).
Read blog articles about spend management, initiative management and data management in procurement, or other articles from our experts.
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