3 Fallacies that Plague the Achievement of Visibility Into Spend

by SpendHQ Marketing

If you’re looking for true spend visibility, don’t believe these myths.

Achieving effective spend visibility and using that for practical solutions almost always involves the use of technology, such as spend analytics and intelligence software to automate data collection, insight surfacing, and reporting. Spend visibility brings significant benefit to mid- and large-sized organizations so that they can optimize spending processes and decisions, mitigate risks, and improve overall financial performance. In this paper, industry experts weigh in on the 3 fallacies or “myths” that can plague procurement organizations in their efforts to obtain spend visibility:

  • “We have the expertise to manage a spend visibility effort in-house.”
  • “Spend analysis is just BI for procurement so we can just use our BI tool.”
  • “A procure-to-pay suite can handle all my spend analysis needs, I don’t need a specialized solution.”

In this paper, you’ll learn how to work through these common obstacles when it comes to assessing and making a business case for a spend analysis solution.

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3 Fallacies that Plague the Achievement of True Spend Visibility | SpendHQ