An organisation’s spending, particularly in a decentralised organisation, is highly obscured with little or limited visibility of how money is spent. This hinders the identification of cost saving opportunities, which, in turn, has a direct impact on the bottom line of the organisation while destroying shareholder value. Top challenges faced by CXOs for driving Spend Analytics include:

  • Insufficient systems
  • Incompatible data sources and poor data quality
  • A lack of necessary resources and methodology for spend analysis