Spend Management Software Definition

In business, spend management is the process of controlling and optimizing an organization’s spending. Spend management software is a type of software that helps businesses manage their spending. The software can help businesses track spending, create budgets, and forecast future spending.

Spend management software can be used to track and control all types of spending, including operational expenses, capital expenditures, and procurement. The software can also be used to track and control spending on specific projects or contracts.

Spend management software can help businesses save money by reducing unnecessary or wasteful spending. The software can also help businesses improve their financial planning and control their overall costs.