Spend Dashboard Definition
A spend dashboard is a tool that allows businesses to track and monitor their spending. This can be done through various means, such as Excel, software programs, or even online services. By tracking spending, businesses can see where their money is going and make adjustments accordingly.
There are many different factors that can be tracked with a spend dashboard. For example, businesses can track how much they are spending on specific items, such as office supplies or marketing materials. They can also track where the money is being spent, such as which vendor they are using for a particular service. Additionally, businesses can track the frequency of spending, such as whether they are making large purchases on a monthly basis or smaller purchases on a weekly basis.
By tracking all of this information, businesses can get a better understanding of their overall spending patterns. This can help them identify areas where they may be able to save money or make more efficient use of their resources. Additionally, it can help businesses to set budget limits and control their spending more effectively.
