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Leading analyst IDC recognizes innovation in procurement solutions.

Airbase

This is why we’re seeing intake solution providers adding accounts payable automation to their offering. At the same time, the business environment became increasingly difficult to manage, with a greater emphasis placed on cost control, which raised the bar for all procurement solutions. They really enjoy using the system.”

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Spend under management: The procurement KPI you should be tracking at any stage.

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Traditionally, this meant largely unmanaged spending since companies were never sure how much was put on cards. As a result, they lacked real-time control over that spend. There are different definitions of spend under management. The most narrow refers to the percentage of strategic purchases with a negotiated price.

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Workforce Spend Sector Gets Busy

PYMNTS

As application programming interfaces (APIs) and digital banking promise unheard of levels of control, companies are eyeing the 40 percent or more of revenues that go to spend — and specifically, how much can drop to the bottom line by using artificial intelligence and accounts payable automation in creative new ways. “A

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What is vendor management and why is it important?

Airbase

Regular reporting that is available from spend management systems can help you stay on top of how well your vendors are serving your company’s objectives. Employ technology for vendor management. Software solutions for vendor management can be a great benefit to you as the customer and to your vendors.