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The Complete Guide to Spend Management in 2021

In order to make money and grow your business, not only do you need to spend money, you need to closely manage it.

In 2021, however, controlling your business’s spend is quite the task. We’re still adjusting to the ‘new normal’ of work, economic stability is out the window, and securing the right tools for change is increasingly more difficult.

Enter Spend Management. 

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In our latest eBook, Spend Management for Forward-Thinking Businesses, we’ll show you:

And that’s just the tip of the iceberg. This 35-page eBook is tightly packed with actionable tips and tricks to deploy across your own business, helping you reduce costs and improve your bottom line.

Why a strong Spend Culture is critical to Spend Management.

How, why, and when you should make purchasing decisions.

The steps you need to take to deploy a robust procurement strategy.

How to capture spend data and budget for the future.

Deploy a proper purchasing process

Manage suppliers. Conduct spend analysis. Improve your request-to-purchase times. Learn why you need to implement a clear spend policy in 2021 and how you can build a proper purchasing process.

Safeguard against sunk costs during your approval process

Financial leaders need to green light, stop, or delay decisions before a financial commitment, not after. Learn how you can go from reactive to proactive and approve spend requests rather than expense reimbursements.

Understand the power of a proactive Spend Culture

The onus of company spending no longer lies solely with your finance team. In 2021, every team member is responsible for Spend Management. Learn how to roll out a proactive Spend Culture across your business.

Set the right budgets

Budget setting is an integral part of Spend Management. Learn how to implement budget controls, use communication to create accountability, and why categorizing your spend is the answer to accurate budgets.

Streamline your receiving timeline

Understand how receiving and vendor management sync together, how to organize your (virtual) paperwork, and how to notify the correct parties in a timely fashion.

Your bottom line never looked so good

Stop unexpected invoices. Start making informed spend decisions. Learn how forward-thinking businesses implement a proactive Spend Management strategy and improve their bottom line.