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.
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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.