Difference between revisions 546256772 and 552088168 on enwiki

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'''Spend management''' is the way in which companies control and optimize the money they spend. It involves cutting operating and other costs associated with doing business. These costs typically show up as "operating costs" or SG&A (Selling, General and Administrative) costs, but can also be found in other areas and in other members of the supply chain.

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Most recently, companies have been utilizing new tools such as e-sourcing (for bidding and [[reverse auction]]), e-procurement (to control and monitor purchasing activities and contracts), and e-spend analytics (to gain insight into how much money is being spent on what types of services or products). Some tools are also addressing the entire spending chain, or [[purchase-to-pay]] cycle <ref>''[http://www.itjungle.com/fhs/fhs041310-story04.html P2P vendors in the US]''</ref>
. 
Some of the newer spend management solutions are
* [http://www.orpheus-it.com/spend-management/overview Orpheus - SpendControl for spend analytics]
* [http://www.spendsolutions.co.uk/ Spend Solutions]
* [http://www.jcatalog.com/ JCatalog]

These tools promise, not only to automate paper intensive and manual processes, but also to help monitor and control spending activity and to create an integrated process in which each activity feeds into another.

== How spend management saves money ==

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==References==
{{Reflist}}

[[Category:Management accounting]]
[[Category:Procurement]]
[[Category:Supply chain management]]