Spend data hasn’t traditionally been a focus for the CFO. But you’re missing a trick, because when it is used properly it can unleash a torrent of untapped opportunities such as:
- That could mean better understanding of how spending ties in with wider business goals, such as supplier diversity or supply chain risk.
- Showing colleagues how the right accounts payable processes can help them make big savings, and make their departmental budgets go further.
In this paper, we’ve highlighted three vital areas where improved spend analytics can start to facilitate better decision making, and explain why the modern finance leader is embracing this approach (and should if they aren’t already) for the democratization of data and analytics.
- How procurement can tap into new levels of value for stakeholders by becoming stewards for data
- The importance of investing in data to help unlock enterprise objectives, from CSR targets to P2P performance
- Why business leaders are using cloud-hosted and delivered tools to overcome legacy issues and to channel large volumes of data into a more strategic and valuable asset