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The Definitive Guide to Spend Management

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What is spend management?

Spend management is an important innovation in finance and accounting that represents a radical departure from the status quo. It handles the full lifecycle of every dollar a company spends outside of its payroll.

How does spend management work?

Spend management applies a base of three supporting pillars:
  • Approval workflows.
  • Accounting automation.
  • Real-time reporting.
...To the three functional areas of company spend:
  • Accounts payable.
  • Corporate cards.
  • Expense reimbursements.
Benefits of spend management:
  • Visibility and control over spend to reduce wasted spend and control budgets.
  • Vastly improve the financial infrastructure and operations.
  • More time for accounting teams to perform high-value work.
  • Easier purchasing and compliance for employees.

What does a spend management system do?

  • Consolidates the functionality of multiple payment, expense, and AP accounting solutions into one single source of truth for all non-payroll spend. Think Bill.com, credit cards and Expensify all in one system. 
  • Supports all payment types from one command and control center: physical corporate cards, virtual corporate cards, checks, ACH, employee expense reimbursements, and even vendor credits.
  • Automates expense request and approval workflows to ensure compliance and provide better budget control.
  • Streamlines and automates expense request and approval operations and processes to ensure compliance with spend policies to better control the budget.
  • Captures data in real time for all non-payroll spend so that all stakeholders can see a full picture of up-to-the-minute spending.
Spend management replaces a messy tech stack with one consolidated platform.
Spend management replaces a messy tech stack with one consolidated platform.
Bill Losch, CFO, Okta
Bill Losch
CFO, Okta
With the new tools coming out now, things can be automated more efficiently. And this frees up time for more analysis, more of the fun stuff, moving forward.*
*
Airbase hosts a regular speaker series called The Path to Becoming a CFO. Quotes in this guide are from those sessions — we invite you to read more in our ebook, The 21st-Century CFO.

Guides and ebooks

The Definitive Guide to Spend Management

02

What is spend management?

Spend management is an important innovation in finance and accounting that represents a radical departure from the status quo. It handles the full lifecycle of every dollar a company spends outside of its payroll.

How does spend management work?

Spend management applies a base of three supporting pillars:
  • Approval workflows.
  • Accounting automation.
  • Real-time reporting.
...To the three functional areas of company spend:
  • Accounts payable.
  • Corporate cards.
  • Expense reimbursements.
Benefits of spend management:
  • Visibility and control over spend to reduce wasted spend and control budgets.
  • Vastly improve the financial infrastructure and operations.
  • More time for accounting teams to perform high-value work.
  • Easier purchasing and compliance for employees.

What does a spend management system do?

  • Consolidates the functionality of multiple payment, expense, and AP accounting solutions into one single source of truth for all non-payroll spend. Think Bill.com, credit cards and Expensify all in one system. 
  • Supports all payment types from one command and control center: physical corporate cards, virtual corporate cards, checks, ACH, employee expense reimbursements, and even vendor credits.
  • Automates expense request and approval workflows to ensure compliance and provide better budget control.
  • Streamlines and automates expense request and approval operations and processes to ensure compliance with spend policies to better control the budget.
  • Captures data in real time for all non-payroll spend so that all stakeholders can see a full picture of up-to-the-minute spending.
Spend management replaces a messy tech stack with one consolidated platform.
Spend management replaces a messy tech stack with one consolidated platform.
Bill Losch, CFO, Okta
Bill Losch
CFO, Okta
With the new tools coming out now, things can be automated more efficiently. And this frees up time for more analysis, more of the fun stuff, moving forward.*
*
Airbase hosts a regular speaker series called The Path to Becoming a CFO. Quotes in this guide are from those sessions — we invite you to read more in our ebook, The 21st-Century CFO.

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