Managed Spend is a term used to define the process of managing and controlling corporate expenses. It involves analyzing past spending, understanding current spend trends, predicting future needs, and strategically budgeting for various cost items. The aim is to achieve cost efficiencies through a better understanding of where and how funds are being allocated in order to maximize value for money. By leveraging advanced analytics and technology, businesses can gain insights into their managed spend activities and make informed decisions about their finances.