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In addition to time savings, the visibility and control that a spendmanagementsystem gives are required to reduce unnecessary, unplanned, or rogue spending. Software-enabled corporate cards alert you to any zombie or duplicate spend. Will there be a recession? The jury is decidedly out.
The following practices tend to be open to companies that have freed up procurement resources by automating other aspects of vendor management. Quality audits and inspections of vendor facilities and products can identify potential quality issues early on and prevent them from reaching the customer.
“A recent study found that 95 percent of companies were likely to invest in and deploy improved spendmanagement platforms over the next two years,” the Workforce Spend Tracker states, “and many are doing so to enable audits and increase expense-filing transparency. The Workforce Spend Tracker discusses how the U.S.
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