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Business Spend Management
When’s the last time you measured your measurements?
Before we get into all that, I just want to ask how you’re doing. It’s been a long couple of years – hard years on all of us – and because I care, I want to know how you are. You know, financially. Okay, so there’s a conversation your mother would...

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Business Spend Management
Let’s see what they got away with: A quick look at 2022 spending.
Your drive to Cleveland was 286 miles, so you might as well round that up to 300. And dinner? Well, that was a little more than your per diam, but hey, you haven’t had work dinner in two years, so why not splurge? Speaking of which, you had to buy...

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Business Spend Management
Why spend management is crucial for business survival
The COVID-19 pandemic represents a major challenge for businesses that were already underpressure even before the crisis. According to research from ILO, the pandemic forced 81% of businesses in Asia Pacific to adapt their business operations or...

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Business Spend Management
How to categorise expenses for small businesses + free business expense template
Categorising business expenses doesn’t come easily, but it’s one of the most important activities any small business owner must do—both for tax season and cost management. The debate on how much a small business should be spending in a month or...

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Business Spend Management
6 tips for creating a business travel policy in the Next Normal
As business travel shows signs of slow recovery in 2021, planes and trains are beginning to fill up once more with corporate travelers. But even if business travel one day returns to pre-pandemic levels, some of the changes brought about by...

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Business Spend Management
How spend management can help your business bounce back after a crisis
Across SEA, businesses have seen a 30 to 40% drop in local demand due to the COVID pandemic. This puts many small and medium enterprises at risk as cash flows shrink and expenses continue to accumulate. While nobody can predict a crisis, there are...

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Business Spend Management
Four strategies to reduce invoice payment delays
Paying invoices often seems like a small thing. The invoice comes, the business pays, and that’s it. What more is there to it? Unfortunately, the reality is often more complicated. A study shows that 60% of invoices are paid late, with average...

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TALKING ABOUT Business Spend Management

Spend management is the continuous process of collecting and analysing financial data to improve the way money is spent to grow the business. It’s a step towards defining and mapping the overall ecosystem, which facilitates improved performance and reduces waste. Effective spend management allows teams to redeploy funds as needed in response to change. Spend management takes traditional expense recording processes and shifts them online. Companies that conduct spend management can automate repetitive, manual tasks, helping employees redirect their time and energy towards growth-focused activities. Digital spend management seeks to leverage information that businesses already have and make it useful. Find out more about the different aspects of Spend Management.