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Spend Management

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ALSO CALLED: Enterprise Spend Management, ESM, Spend Analysis
DEFINITION: In an enterprise, spend management is managing how to spend money to best effect in order to build products and services. The term is intended to encompass such processes as outsourcing, procurement, e-procurement, and supply chain management. Since the "spend manager" could have a significant impact on a company's results, it has been advocated that this manager have a senior voice in running the  … 
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SPEND MANAGEMENT DEFINITION (continued): … In an enterprise, spend management is managing how to spend money to best effect in order to build products and services. The term is intended to encompass such processes as outsourcing, procurement, e-procurement, and supply chain management. Since the "spend manager" could have a significant impact on a company's results, it has been advocated that this manager have a senior voice in running the company. Ariba is considered the leader in selling software for spend management. It says that its Enterprise Spend Management (TM) Suite encompasses analysis, sourcing, buying, contracting, invoicing, and managing the workforce.
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