You use Spend Management to significantly reduce costs by ensuring that only truly needed and properly authorised goods and services are purchased, and by making sure you obtain best possible value when they are. It also serves to dramatically reduce invoice processing time, effort
and cost in Accounts Payable, as well as creating greater efficiencies in Procurement and throughout your organisation.
But you may be wondering if it is possible to implement effective Spend Management without first replacing your existing Enterprise Resource
Planning (ERP) system. You know from experience that process can be long, expensive and risky. You don’t want to do it if you can possibly avoid it. You
may also realise that just swapping out your basic financial systems won’t, in itself, enable Spend Management. Something more will be needed
even with a new ERP system.
Proactis Holdings Plc (LON:PHD) develops and sells business software, and provides installation and related support services in Europe and the United States. The company offers Spend Control and eProcurement solutions that help organizations to improve operational and financial performance by enhancing the way they buy various goods and services.