What is 'Contract Spend' in SAP SRD-SRM-SC - SRM-Sourcing and Contracting?

Contract Spend - Overview

• Component: SRD-SRM-SC

• Component Name: SRM-Sourcing and Contracting

• Description: A report that shows the company's overall and contract spend per month and the share of the contract spend in the overall spend. The higher the contract spend, the better the contract use in the company and the smaller the maverick spend.

Contract Spend - Details

• 
  Key Concepts: 
  Contract Spend is a term used in SAP SRM-Sourcing and Contracting to refer to the total amount of money spent on a contract. This includes the cost of goods and services, as well as any associated taxes, fees, and other costs. It is important to track Contract Spend in order to ensure that the contract is being managed properly and that all costs are accounted for.
  
  How to use it: 
  Contract Spend can be tracked in SAP SRM-Sourcing and Contracting by creating a contract and entering the total amount of money that will be spent on the contract. This amount can then be tracked over time to ensure that all costs are accounted for and that the contract is being managed properly.
  
  Tips & Tricks: 
  It is important to keep track of Contract Spend in order to ensure that all costs are accounted for and that the contract is being managed properly. It is also important to review the Contract Spend periodically to ensure that it is still within budget.
  
  Related Information: 
  For more information on Contract Spend in SAP SRM-Sourcing and Contracting, please refer to the SAP Help Portal or contact your local SAP representative.