Spend Analysis

From Wikipedia, the free encyclopedia

"Spend visibility" redirects here.

Spend analysis is the process of collecting, cleansing, classifying and analyzing expenditure data with the purpose of reducing procurement costs, improving efficiency and monitoring compliance. It can also be leveraged in other areas of business such as inventory management, budgeting and planning, and product development. Spend analysis can provide answers to such questions as:

• What was bought
• When was it bought
• With whom did we buy it
• How much did we pay for it

Spend analysis is often viewed as part of a larger domain known as spend management which incorporates spend analysis, commodity management and strategic sourcing.