How much of your revenue toward spend? Chances are that it's 40% to 45%. But, with management requirements growing ever-more complex. how much control do you have?
To make sense of it all, SAP and IDC fielded the Intelligent Spend Management survey in July/August 2019. The survey polled worldwide 800+ leaders across finance, procurement, supply chain and IT functions to collect information on current spend management approaches, top challenges, and unmet needs, and intelligent spend management product concept reaction.
The study shows that 61% of respondents say they use disparate spend management processes and applications that may not be connected. The result is a lack of spend visibility and control across all spend categories. It's not surprising, then, that 90% of leaders say their companies could increase spend control, and 87% are interested in investing in a unified spend management platform. Key priorities include enabling audits across all types of spend, providing transparency across all spend categories, and enforcing compliance with organizational spend policies. In addition, 95% of survey respondents likely to invest in and deploy intelligent spend management platforms in the next two years.
To learn more about survey results and Intelligent Spend Management, download the full report.