Today’s spend management: Why it’s so painful for finance teams

About this webinar.

In this webcast, we will discuss how company spending has changed over the past decades, and the strain that those changes have placed on finance teams. We will evaluate the forces that have, and will continue to burden traditional spend practices in companies. 

The first of these is the move from centralized, top-down purchasing—which is easy to budget, control and report on—to a decentralized approach. A second wave is toward digital payments and their impact on oversight, accounting, and reporting. We will consider how inefficient spending processes that have grown up around these drivers have led to a lack of visibility into spend, unnecessary risk, and to waste at the company level.

Accenture notes: “…our benchmark data shows that the average company effectively manages less than 50 percent of spend, falling far short of best-in-class organizations at 90 percent or more…”

Join us as we talk through common spend management pitfalls and spend management case studies. From these, we will consider insights into how gaining access to better, real-time information and improving operational efficiency can drive significant value for your organization. 

Learning objectives.

• Insights into why traditional spend management practices will continue to place increasing strain on finance teams.
• Ways to streamline workflows, gain access to real-time information, and get control over spending while still empowering your high-performance teams to make necessary, approved purchases.
• How businesses can use lightweight automation tools to implement best practices without the burden of large corporate procurement and spend management divisions.