Spend management refers to the effective control and visibility of costs associated with company travel, employee expense, and supplier invoice processes.
Organizations providing professional services have larger workforces working on billable projects, and face problems tagging spend into appropriate spend type (billable/ non-billable), and to the right client or project. These organizations also need to keep a track of opportunity account to check the profitability of clients- which is not possible without near real time visibility into spend.
