Definition

spend management

In an enterprise, spend management is managing how to spend money to best effect in order to build products and services. The term is intended to encompass such processes as outsourcing, procurement, e-procurement, and supply chain management. Since the "spend manager" could have a significant impact on a company's results, it has been advocated that this manager have a senior voice in running the company.

Ariba is considered the leader in selling software for spend management. It says that its Enterprise Spend Management (TM) Suite encompasses analysis, sourcing, buying, contracting, invoicing, and managing the workforce.

Related glossary terms: vertical scalability, business technology management (BTM), pure-play, winner's curse, e-brokerage, employee assistance program (EAP), CEO (Chief Executive Officer), learning management system (LMS), out of the box, intermediary

This was last updated in September 2005

Posted by: Margaret Rouse

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