Spend management stories

For the third consecutive year, Workday has been named a Leader in the 2024 Gartner Magic Quadrant for Cloud ERP for Service-Centric Enterprises.

Extend has launched its Bill Pay feature, allowing businesses to settle invoices securely using virtual cards, enhancing accounts payable processes.

Unimarket and VendorPanel have merged to enhance procurement solutions, targeting an annual global spending of USD $13 trillion in the sector.

Payhawk's 'Fall Edition' introduces over 15 new features aimed at boosting spend transparency and accountability, addressing key pain points for financial leaders.

Ascertus has partnered with Lawcadia to enhance matter and spend management for corporate legal departments, solidifying their portfolio with innovative solutions.

Almost 25% of UK firms have adopted Generative AI in procurement, cutting manual tasks by 44%, reveals Ivalua research. Future efficiency gains are projected.

AI-driven procurement by Globality and HFS Research shows Global 2000 firms boosting productivity by 70% and cutting costs by 20%, enhancing efficiency.

Ivalua has unveiled its External Workforce Management solution, promising seamless integration within its Source-to-Pay platform to optimise talent selection, costs, and risk management.

Nearly a third of UK businesses fell victim to invoice fraud in the past year, with only 39% preventing fraudulent payments.

UK businesses have ramped up their AI spending by 449% in Q1 2024, with 63% of investments directed at OpenAI's ChatGPT.

Ivalua has partnered with Visa to unleash £400 billion in trapped supply chain liquidity, enhancing global corporate card use and improving cash flow.

Ivalua to digitise NCC Sweden’s supply chain with advanced risk and performance management, aiming to curb annual revenue losses of up to 15%.

Silvério Governo of Portt discusses the company's innovative approach to procurement and spend management, addressing sector-specific challenges and leveraging technology.

Moss has formed a strategic alliance with HR platform Deel, in a bid to make finance and HR operations for SMBs more automated and efficient.

Procurement teams face challenges of compliance, supply chain risk, savings focus and securing approval for technology investments, impacting an organisation's business success.

Extend unveils 'team budgets', a novel feature designed to enhance spend regulation, secure transactions and foster autonomy amongst finance leaders on its platform.

Accenture has identified Ivalua as a leading provider in the direct materials sector, highlighting the promise of its spend management solution to bolster supply chain resilience.

UK fintech company Payhawk aims to expand its London team by 44% following a successful year and the acquisition of its UK EMI Licence.

By taking steps to better manage indirect spend more effectively through invoice automation, companies can ensure that their operations and workflows are optimised.

Organisations that implement spend management technology sooner rather than later will find themselves in a stronger position to weather an economic storm.