article thumbnail

What is vendor management and why is it important?

Airbase

Vendor management is an integral part of financial management, enabling companies to control costs, mitigate risks, streamline operations, and maintain a healthy supply chain. By effectively managing vendors, finance teams can significantly contribute to the overall financial success of their organizations.

article thumbnail

Will there be a recession? How spend management improves agility in the face of uncertainty.

Airbase

Year-over-year consumer spending also rose, suggesting that people have, and trust that they will continue to have, disposable income. So, what’s a finance professional to do? Processes need to support quick pivots and adjustments, especially when it comes to managing company spending. Becoming recession-ready.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

Leading analyst IDC recognizes innovation in procurement solutions.

Airbase

If any finance process is overdue for innovation, it’s procurement. Finance teams who must accurately record all transactions, 3. Let’s take a look at IDC’s research and what it means for finance teams. Even before COVID-19 led to a wholesale shift to remote work, business spending was becoming increasingly decentralized.

article thumbnail

Analyze, align, automate: How to optimize financial systems.

Airbase

New tools that give visibility into subscription spending, like Airbase, help the finance department to be the unifying glue across the company. Finance can identify duplicate spend and opportunities for savings. They can also assess systems that aren’t performing well.

article thumbnail

Barclaycard On Everyday Spend Management And The Digital Shift

PYMNTS

Permanent staff members would use personal funds to pay for travel expenses and office supplies during this time, collecting paper receipts to turn in to administrative or finance teams at the end of the month. Parpou said she believes that digital spend management tools have the potential to become long-lasting.

article thumbnail

Newly Funded Airbase Consolidates Spend Management

PYMNTS

The financing reportedly closed at the end of last November but was not revealed until this week, when Airbase officially announced its product launch. In an interview with the publication, Founder and CEO Thejo Kote described the firm as “the first all-in-one spend management system.”

article thumbnail

Plugging Expense Leaks With Spend Management Solutions

PYMNTS

But there are other types of unwanted friction in finance. Big corporations and small to medium-sized businesses (SMBs) all struggle with expenses, and must address leaks and mishaps before they become accounting nightmares. That’s one of many familiar scenarios where spend management is having a massive impact.