The Future of Spend Management: Approaches, Opportunities, and Challenges in a Digital World
On average, 40–45% of a company’s revenue goes to procurement spend – making spend management a critical business function, arguably the most critical.
Yet, a recent IDC survey (conducted with 800+ respondents online across four regions worldwide) revealed that more than 50% of organizations are still working with fragmented applications to manage spend. They’re feeling the impact in the form of excessive logistics costs, high inventory carry costs, low margins, and driving compliance.
It’s no wonder 95% of the organizations surveyed say they plan to invest in and deploy an intelligent spend management platform in the next two years.
Complete the short form for further insights from the survey and explore the key benefits when people, process and technology come together to empower the future of spend management.