Agile Spend Management

Agile Spend Management

Agile Spend Management Definition in Procurement is ‘the process of acquiring goods and services from an external source.’

Procurement generally involves the following steps:

1. Identifying the need for goods or services

2. Selecting a supplier

3. Negotiating prices and terms

4. Ordering goods or services

5. Receiving and inspecting goods or services

6. Payment

7. Contract closeout