Previously observed as a back-office function, accounts payable (AP) is identified as the team that acts as the main hub for controlling spend management. As AP shifts into a visible role of handling spend, the employees get the opportunity to take an increasingly strategic role. If you work in AP, you might be wondering how […]
The Strategic Role of Automated Accounts Payable in Business Read More »
Not managing money effectively can make or break your business. It is important to control costs and reduce spending in your payment processes. Not streamlining your accounting process would let the money fall through the cracks. Embracing spend management can help figure out areas where ineffective spending is happening and allows you to save time
3 Ways Spend Management Software Can Streamline Your Purchasing Process Read More »
Managing business spend is very important for organizations that mainly deal with purchasing and procurement. From selecting suppliers to set up contracts, businesses should have a holistic view of procurement enterprise-wide. Spend management goes beyond procurement requiring business units and finance departments to align around spend categories. Getting a comprehensive view on relevant processes across
Effective Spend Management Tips for Businesses Read More »
Corporate travel and expense management is a mundane task for the finance team. Employees look for more swift and simple booking processes to suit their requirements. Organizations are also very keen about employer purchases and want to see where every penny is going. Majority of organizations are making decisions about company T & E spending
Gaining Visibility into Corporate Spend Management is the Key for Business Success Read More »
Technology is making a significant impact at various levels for businesses. Right from digital payments to business procedures, organizations are increasingly becoming more agile in nature. All departments including the finance and accounts payable have to keep up with the technology to pick up pace in the industry. Margins, profits, and budget are the top
Simplifying Business Spend Procedures with Automation Read More »
Spend management, which involves sourcing goods and services, setting contracts and paying suppliers, impacts every employee in the company. As employees have to buy things that they need to do their jobs, they interact with every part of the spend management process. To maintain efficiency and agility, the spend management process has to be fast
Proven Benchmarks for Better Spend Management Read More »
Today, businesses are grouping different types of expenses under the T&E umbrella. To make expense management more strategic, its three pillars such as spend, procurement and invoicing have to be consolidated into a single function, aligning much in the way we have combined our various forms of communication with one tool – the smartphone. Each
Why Spend Management Platform? Read More »
When you are spending money on business travel, it is important to know where your money is flowing. Keeping track of your money will help you know everything about cash flow and plan your spending. However, getting a handle on the right information is very important to make informed decisions. By automating expenses, you will
Spending Analytics for Data-driven Decisions Read More »
Although you have many tools and techniques in place to manage to spend, you’ll find it difficult to get accurate information about spending. An end-to-end approach is required to gain greater transparency and control over spending at a higher level. Spend management is a critical area that should be managed with utmost effort to drive
SutiSoft Spend Platform: Making Spend Management Simpler Read More »
Spend analysis is the procedure of collecting, sorting, and analyzing the spend data with the intention of minimizing procurement costs, enhancing efficiency, and monitoring compliance. Business critical decisions start with spend analysis. You can only improve when you analyze the metrics. You should consider spending analysis as a component of strategic sourcing instead of just
Spend Analysis: What Your Data Is Telling You and Why It’s Worth Listening Read More »
