Expense Management
AOP Best Practice Hub
An introduction to...
Expense Management
Expense management is a critical value driver for procurement, but it also goes beyond simple price negotiations to include a comprehensive approach to value creation. When procurement implements cost management best practices like advanced spend and predictive analytics, collaboration with stakeholders and suppliers, and a sense of ownership over factors like quality and long-term sustainability, they can drive significant cost reductions while enhancing overall value for the business.
Procurement achieves the best results when they embed a culture of cost consciousness throughout the organization and work in concert with the rest of the business to find innovative ways to reduce costs while maximizing impact and value.
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