Procurement Spend is a term used in business to describe the money spent on goods, services, and other items from vendors. It is a measure of the total amount of money invested in the acquisition of goods and services from external suppliers. It can include the cost of labour and materials, as well as related overhead expenses such as distribution and delivery. Procurement Spend is an important indicator of a business’s financial health, as it reflects the amount of money that the business has committed to the purchase of goods and services. It is also used to measure the efficiency and effectiveness of procurement operations. The official business definition of Procurement Spend is the total amount of money invested in the acquisition of goods and services from external suppliers. This includes the cost of labour and materials, as well as related overhead expenses such as distribution and delivery. It is important to note that Procure