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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.
Free Guide: 4 ITSM Best Practices for Managing Service Vendors
Managing the vendors you've hired to deliver IT services to the business goes beyond procurement and standard IT contract negotiations. Learn 4 best practices for maximizing service delivery from experts and 5 key steps for developing ITSM SLAs that work in an environment with multiple service providers.
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.
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