What is Intelligent Spend Management in SAP BV-NON-PRODUCT - Brand Voice - Non-Product?

SAP Term: Intelligent Spend Management

• Component: BV-NON-PRODUCT

• Component Name: Brand Voice - Non-Product

• Description: An initiative that brings together SAP Ariba, SAP Concur, and SAP Fieldglass solutions. Integrated with SAP S/4HANA, these solutions help customers manage the three primary categories of supplier spending: procurement of indirect and direct goods; travel and expense; and external workforce management.

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• Key Concepts: 
  Intelligent Spend Management is a suite of SAP solutions that helps organizations manage their spending more efficiently. It provides a comprehensive view of spending across the organization, enabling better decision-making and cost savings. It also helps organizations to identify areas of potential savings and to optimize their procurement processes. 
  
  How to use it: 
  Intelligent Spend Management can be used to track and analyze spending across the organization, identify areas of potential savings, and optimize procurement processes. It also provides insights into supplier performance and helps organizations to negotiate better deals with suppliers. Additionally, it can be used to monitor compliance with internal policies and external regulations. 
  
  Tips & Tricks: 
  When using Intelligent Spend Management, it is important to ensure that all data is accurate and up-to-date. Additionally, it is important to regularly review the data to ensure that it is still relevant and that any changes in the organization’s spending patterns are being tracked. 
  
  Related Information: 
  SAP’s Intelligent Spend Management suite includes several products, such as SAP Ariba, SAP Fieldglass, and SAP Concur. Additionally, there are several third-party solutions available that integrate with Intelligent Spend Management, such as Coupa and Basware.