What is yearly spend data in SAP SAP-LEGAL - Global Field Legal?

SAP Term: yearly spend data

• Component: SAP-LEGAL

• Component Name: Global Field Legal

• Description: Each twelve 12 month set of Spend Data i.e., the twelve months of Spend Data for the initial Data Enrichment, and/or the aggregated Spend Data from four quarterly refreshes.

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• Key Concepts: 
  Yearly spend data is a component of SAP-LEGAL Global Field Legal Spend. It is a tool that allows users to track and analyze their legal spending over the course of a year. This data can be used to identify areas of potential cost savings, as well as to monitor and manage legal expenses. 
  
  How to use it: 
  Yearly spend data can be accessed through the SAP-LEGAL Global Field Legal Spend module. Once in the module, users can view their legal spending for the current year, as well as for previous years. They can also filter the data by category, such as type of legal service or type of vendor. 
  
  Tips & Tricks: 
  When using yearly spend data, it is important to keep in mind that the data may not always be up-to-date. It is important to regularly check for any changes or updates in order to ensure accuracy. Additionally, it is helpful to compare the data with other sources, such as invoices or contracts, in order to verify accuracy. 
  
  Related Information: 
  Yearly spend data is just one component of SAP-LEGAL Global Field Legal Spend. Other components include budgeting and forecasting tools, contract management tools, and analytics tools. All of these components work together to provide users with a comprehensive view of their legal spending.