SAP Spend Management

Companies need to procure products and services for various purposes. They need to spend to procure products or services, which can be both direct as well as indirect. A direct spend pertains to any products or services that has been procured to produce the product or services offered by the company. An example of this is any raw material that need to be procured to manufacture a product. The second type of spend is indirect spend, which pertains to amount spent on procuring support services, like office services, IT hardware etc. To understand where they are spending as well as to determine if there are opportunities to reduce or optimize their spend, companies need detailed visibility and insights into their spend. This is what a spend intelligence solution provides.

Companies need to procure products and services for various purposes. They need to spend to procure products or services, which can be both direct as well as indirect. A direct spend pertains to any products or services that has been procured to produce the product or services offered by the company. An example of this is any raw material that need to be procured to manufacture a product. The second type of spend is indirect spend, which pertains to amount spent on procuring support services, like office services, IT hardware etc. To understand where they are spending as well as to determine if there are opportunities to reduce or optimize their spend, companies need detailed visibility and insights into their spend. This is what a spend intelligence solution provides.

SAP offers a portfolio of spend management solutions that can allow organizations to manage every source of spend across multiple categories of spend, direct and indirect spending, external services and contingent labor, travel and expense, in a single unified view. This required visibility into their spend helps organizations make fast, intelligent decisions to help them optimize their spend. Following spend intelligence solutions are available in SAP portfolio:

• SAP Ariba: SAP Ariba integrates the entire buying process across your entire organization. SAP Ariba offers an end-to-end automated system that removes complexity and allows buyers and suppliers to manage everything from contracts to payments all in one place.
• SAP Fieldglass: SAP Fieldglass is a software company providing a cloud-based Vendor Management System (VMS) to manage services procurement and external workforce management programs
• SAP Concur: SAP Concur is an American SaaS company, providing travel and expense management services to businesses

Enhance supply chain efficiency with spend management visibility: In this article, experts from PwC discuss how procurement teams today face increasing challenges due to supply chain uncertainty and touch upon how technology innovation across spend management can enable real-time procurement visibility to navigate supply chain complexity

The future of intelligent spend management for the public sector: In this video session, leaders from Deloitte share a practical vision of the future of spend management in the public sector, focusing on leading technology accelerators and process blueprints.

An introduction to spend analysis: This article introduces readers to fundamentals of spend analysis in order to develop a better understanding of how it can be leveraged to generate valuable insights into various types of organizational spend.