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Spend Management

Note from the editor

Spend management is an undeniably critical function for any company. It's evolved from a solely cost-saving function to one which provides competitive value. 

Manage it well and spent visibility is enhanced, cost savings are realized, risk is reduced and capital is freed up for additional research, development and investment. 

But fail to manage it well and, over time, the entire company will suffer. 

In the trendline below, we explore the strategies behind successful spend management and procurement and how to use spend as a powerful tool to unlock value. 

Shefali Kapadia Senior Editor

Picking the right procurement KPIs for your business

Key performance indicators related to suppliers, staff and organizational performance serve as measurement tools to keep businesses on track.

7 steps to manage indirect spend

Indirect spend is often relegated to new buyers or even departments outside the purview of procurement, putting a company at financial and operational risk.

How to navigate procurement in a post-merger world

In an ideal scenario, the procurement department is brought in before inking a deal to analyze potential savings and hiccups down the road like contract negotiations and disparate tech systems.

3 ways to succeed in category management

How Cimpress leveraged analytics to cut procurement costs by 11%

The Vistaprint parent company deployed a digital platform across its subsidiaries to centralize bulk contracts while giving brands room to manage specialized orders independently.

The 4 pillars of procurement for small businesses

SRM 101: Using people to unlock value

Supplier Relationship Management places the focus on how suppliers and buyers can work more closely during the entire lifecycle of a product.