White paper
Report: State of Spend Management Transformation [2023]
- September 20, 2023
What's inside
In their pursuit of efficiency, visibility, and cost optimization, global enterprises are realizing that spend management is no longer merely about balancing the books.
Forward-thinking companies now see spend management as a strategic lever for unlocking long-term growth.
Finance professionals, ranging from CFOs to heads of finance, accounting, and controlling, lead this transformation. They grasp the importance of scrutinizing, optimizing, and strategically allocating every dollar spent in today’s competitive landscape.
This report offer a glimpse into the current state of spend management transformation and the trends, challenges, and opportunities shaping its future.
Key findings
Here’s what you need to know about the State of Spend Management:
- 48% of companies use a mix of manual and digital solutions
- 91.3% aim to improve their operational efficiency by transforming their processes
- 20% of companies have automated their processes, but struggle with siloed data
- 60.9% of respondents are looking to transform their spend management for better spend control
- 65.2% are looking for solutions that will improve their employee satisfaction
- Only 12% of respondents have fully transformed their spend management processes
Download the report to understand where your organization stands in this landscape.
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