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For decades, the many steps and stakeholders in large enterprise purchasing meant procurement teams had to rely on heavyweight, expensive solutions, while mid-market companies either had to adopt one of those overly cumbersome solutions or throw some ad-hoc procedures together to try to controlspend. Accountspayable and procurement.
“Does your business want to improve its spendmanagement?”. Few CFOs would say “no” if asked that question: Spendmanagement is attractive to companies for obvious reasons, as even successful companies face margin pressures. Controllingspend doesn’t have to mean giving employees less capital to work with, said Duvedi.
Accordingly, spend & expense management is an area with significant growth potential for accounting firms — particularly those looking to jumpstart their CAS practice. By comparison, modern spend & expense management solutions can provide proactive insights based on real-time data.
This is referred to as spend under management (SUM), and is an extremely useful KPI at any stage Centralizing a decentralized world. SUM is a basic procurement metric that measures the proportion of an organization’s total managed and controlledspend through procurement processes.
Introducing Payhawk, the leading spendmanagement solution for scaling businesses. Payhawk is the leading spendmanagement solution for domestic and international businesses throughout Europe, the US, and the UK. Learn more about them before meeting the team at Accountex… What do Payhawk do?
Mobile tools not only enable professionals to work beyond the nine-to-five world, but these capabilities provide real-time insight into corporate spend. Managers can identify and assess suspicious transactions almost immediately. In accountspayable, commercial card transactions may not account for much — yet.
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