Solutions

Spend Management

Ditch the emails, spreadsheets, and ad hoc purchase approval processes that you’ve relied on. They are cumbersome and difficult to use when monitoring your spend. Spend management platforms like Procurify allow greater visibility and control over how your company is spending money.

What is Spend Management?

Spend management is a philosophy, framework, and software category that helps companies manage direct expenditures and control discretionary costs to improve the bottom line and influence strategic business decisions for all stakeholders.

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This includes overseeing all activities in the entire procure-to-pay process including requisitions, approving, purchasing, receiving, paying, and analysis of company spend. Spend management helps all leaders understand the value of their spend relative to the operations of a business. Organizations use spend management because they want:

A comprehensive management framework for all spend, not just employee expenses

Spend Analysis, insights, and reporting to drive strategic business decisions

Alignment of business goals to budgets

Efficient and compliant control processes over digital audit trails and approved spend

The Benefits of Spend Management

Would you ever file your taxes on paper rather than online? If that idea gives you the slightest bit of anxiety, we understand. Why would you? Switching from paper to digital leads to huge time savings, greater control, and operational efficiencies: everything you would get from a spend management platform like Procurify.

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Spend Management keeps you in control of your business spend, allows you to identify new savings opportunities, and repurposes those savings to drive growth for your organization.

Reduce risk by ensuring purchase approvals happen before the expense occurs, not after

Gain spend visibility across all department and project budgets, giving finance leaders the ability to spot rogue spending before it happens

Ensure compliance with internal control policies and external audit requirements

Achieve a detailed understanding of where your organization is spending money with real-time insights into budgets versus actuals, and alerts

Increase profitability by discovering new areas of cost savings that previously went untapped

Decrease approval times for purchase requisitions in order to keep teams agile and moving forward

Procurify’s Spend Management Supports Strategic Business Decisions

Customizable Approvals

Custom approval flows are the backbone of your financial controls. Without these controls, companies increase risk, workloads, and higher instances of control deficiencies for audits. Ensure the right people are approving your business spend.

Mobile Access in Any Location

Being out of office doesn't need to be a bottleneck. Working with remote team members across distributed locations is easy with our beloved mobile app. Requests and approvals on the go will never look the same again.

End-to-end Purchasing Workflows

Gain comprehensive workflows by upgrading your purchase requisition processes to ensure complete spend visibility in the entire procure to pay cycle.

Real-Time Spend Analytics

Know exactly what payments are going out the door, by role, and department. Make sure teams are spending only what’s been budgeted and approved.

Take control of your business spending

Spend management helps companies manage their spend to manage their business. Whether you’re looking for improved spend controls, faster cycle times, or a better way to make decisions, spend management enables companies to proactively manage the spend process from top to bottom to drive operational efficiencies and long-term business growth.

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