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Latest Procurement Insights
Spend Analysis to Spend Management. Where are You on the Spend Meter?
There are different levels of analyzing your spend, ranging from basic spend analysis to advanced spend management. Consider the following scenarios: Company A: The procurement department reviews and analyzes their general ledger spend for 2019, compares...
Some Spend-related Useful Definitions
I’ve noticed that there are a lot of terms being used with the word “spend” in them.Oftentimes one word can mean different things to different people at different companies. In an effort to eliminate confusion, here’s a central repository for Sourcing Force’s...
What is Spend Management? It’s Much More Than Spend Analysis
I often hear the terms “Spend Analysis” and “Spend Management” used together. Often they are lumped together as the same thing, or are loosely defined. So I've decided to make a very distinct differentiation between the two capabilities. Spend AnalysisMany companies...