Finance

Gartner Glossary

Spend Management

Spend management is a set of practices that ensure organizations make procurement and sourcing decisions in the interests of both the bottom line and company efficiency. Spend management is about maximizing value from company spend while decreasing costs, mitigating financial risk and improving supplier relationships. Spend management is primarily related to procurement and encompasses spend analysis, strategic sourcing and supplier relationship management. Spend management software helps chief procurement officers and chief financial officers maintain spend visibility.

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