Traditional IT systems have generally been found wanting when it comes to addressing an obvious gap in enterprise cost management: indirect spend management.
That’s one of the reasons why so many ERP Procurement modules lie dormant.
But infinitely configurable and best-in-class systems are rapidly giving global enterprises the opportunity to establish common practices and spend visibility with short project lead times and minimal disruption. This gives CFOs a vehicle for turning spend management into instant profit.
Less than 20% of organisations around the globe are exploiting the benefits of spend management, according to investment bank Triple Tree. Given that between them they are spending more than $20 trillion every year on direct and indirect goods and services, that’s a staggering degree of inertia.
