Spend management software helps businesses to track operational business expenses. This can include software subscriptions, external services, raw materials, and various other non-payroll costs. As such, these solutions are often used to aggregate and analyse spend data to identify where optimisations can be made to avoid overspending as well as to help ensure that accounting is completely accurate. Spend management solutions can often integrate with or come as a part of both procurement and accounting solutions, as these tools can combine closely related data into a single online location.
