Get on top of spend management—and stay on top.
Enterprise spend management is the practice of managing all supplier and company purchasing to identify and optimize every dollar spent.
Legacy enterprise spend management systems are spread over multiple teams, data lives in different silos, and there’s often no one
source of truth. By the time you’ve gathered everything you need, the financial picture you get is already outdated
Enterprise spend management platforms are built to give you a complete and instant overview of your company’s spend, letting you continuously view and review outgoings, consolidate expenses, and avoid waste.
Spend management software gives you complete control.
The problem with traditional business spend management:
Spend analysis is too complex
It’s complicated to consolidate diverse information spread out over multiple departments, and slows you down.
High potential for overspend
With little or no clarity over who’s paying for what and how much it’s costing, you’re probably spending more than you need to.
Data is structured differently
When spend is managed differently across departments, integrating all that information into reports gets complicated.
Never in real-time
Traditional spend analysis only gives you a small window of previous spend with limited insights.
Why a modern spend management system is better:
Detailed data keeps it simple
With all your spending activities consolidated on one platform, you get detailed, real-time reports on spend, which help you earn major savings.
Identify duplicates and consolidate
Get instant clarity into your buying and avoid extra spend and duplicate orders.
Advanced spend analytics
With spend analysis software, you can understand what you’re spending money on and with which vendors down to the cent. Better insight equals understanding, which equals smarter decisions.
Real-time view of contract compliance
With a comprehensive view of spend, it’s easier to see whether contracts are being complied with.
Tradeshift’s invoice approval and spend management
Tradeshift spend management solution provides you with a single, smart and versatile platform, where you can easily record and analyze all your organization’s spend. Welcome to the new world of controlled expenses:
Differentiate between spend
Tradeshift gives you powerful tools that help you dig down into the data and compare different kinds of spend, whether it’s spend that is under management or long tail spend.
Get automated analysis
Tradeshift uses advanced machine learning software to analyze your spend, helping you find ways of cutting costs that you may not even have thought of.
Track and monitor KPIs
Tradeshift helps you constantly monitor your current spend and assess this against your KPIs—automatically highlighting, and helping you catch, any potential overspend.
Create compelling reports
With a business intelligence dashboard full of smart tools, you can quickly create bespoke graphs and pie charts to better understand your current spend.