Does Your Board Know That Your Report On Marketing Spending Is Inaccurate?

On an average, marketing expenses account for 15% of expenditure across the Tech industry. Yet, even the most financially sound VC-backed companies cannot accurately report their marketing spend.

WHY?

The truth is: it’s neither Finance’s fault, nor Marketing’s. In most startups, the Finance team cannot accrue for a marketing expense till its invoice actually comes in. Finance relies on the Marketing team to immediately report every expense/purchase it makes, but Marketing has neither the time nor the patience to take up this responsibility. Marketing has other problems, and helping Finance do its job isn’t a priority.

Finance doesn’t have the time to wait for Invoices, but it compiles its report anyway. But because of the missing accrual data, the report isn’t up-to-date and, ultimately, fails to paint a true picture of your Marketing Spend.

“We spent $200M in the past 2 years. $200M!…We spent 2/3 of the cash…Holy shit this is a big deal.”

- CEO of Fab, a $1 Billion startup which went out of business in 2014

If there's anything history has taught us, it's that Marketing can spend a lot of money without realizing.

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“We spent $200M in the past 2 years. $200M!…We spent 2/3 of the cash…Holy shit this is a big deal.”

- CEO of Fab, a $1 Billion startup which went out of business in 2014

It takes a tech startup to recognize a tech problem

Unlike traditional spend management platform, we are agile, and designed for making the end-user’s life easier. Tech companies, large and small, are using Procurify to more accurately track and report their spending. Whether it’s for Google Adwords, marketing software, events and swag, hourly or fixed services and contracts, Procurify was built keeping the tech industry’s specific marketing needs in mind.

“Procurify makes all of our spend data available in one place: We can easily see how much money the company is spending and, on what. This data, and the ease with which we are able to access it, has been very helpful.”



Helen Ramilo, Task Us (6,000 Employees, Revenue > $ 40 Million)

“Procurify makes all of our spend data available in one place: We can easily see how much money the company is spending and, on what. This data, and the ease with which we are able to access it, has been very helpful.”

Helen Ramilo, Task Us
(6,000 Employees, Revenue > $ 40 Million)

Procurify empowers your organization to better control, track and report spend

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