Enterprise Spend Management Optimized

Employees come and go at every firm. Also, users may be too busy to indicate that they no longer need services that were previously important to their role. Understanding the services and users governed by the contracts equips managers to make informed decisions about each contract and know when it’s time to negotiate with the vendor.

A “single view” solution proactively and electronically polls the user community about current service requirements, facilitating cost containment and reduction. This alleviates the data manager from expending valuable time pursuing each user and leaves more time to examine the “big picture”.

A single view of costs & expenses also allows to accurately allocate costs across users, departments, etc. to truly understand profitability.

As regulators and auditors push for more accurate reporting and vendor contract compliance, seeing the “big picture” without a consolidated view of enterprise subscriptions is a challenge.

Enterprise spend management can be made more efficient through data consolidation, intelligent automation and processes such as managed services. As regulators and auditors look for increased transparency into business operations, automated solutions also provide a much-needed audit trail.

With a central system for enterprise inventory & cost management, firms often see a reduction in costs from 2 to 30%. Savings are achieved through cutting annual duplicate service fees as well as reduced headcount toward invoice processing, contract management, reporting, and more.