Corporate Spend Management (CSM) is an integrated system of processes and tools used to manage an organization’s financial resources. It is designed to optimize the use of corporate funds and resources while minimizing costs and maximizing efficiency.
CSM encompasses a range of activities, including budgeting, forecasting, purchasing, invoicing, payment processing, and expense management. By implementing CSM, organizations can gain visibility into their financial operations, improve their decision-making capabilities, and reduce costs.
Additionally, CSM can help organizations improve their compliance with regulatory requirements, increase their financial security, and reduce their exposure to fraud and other risks.
Ultimately, CSM is an important tool for organizations to maximize their financial performance and increase their profitability.