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What’s driving the spend management mega-trend?

There’s a growing interest in spend management among public and private organisations. And finding new ways to control expenditure on goods and services has become a quest for many. But what’s driving this trend?

Today, organisations face intense macro-economic pressures. Almost every sector is impacted by financial turbulence, tight profit margins and growing competition. Disruptive business models and technologies are all part of the new economy – and are often lauded and encouraged.

“We advise companies to be disruptive,” Deloitte Chief David Cruickshank told the Economic Times in 2017. Meanwhile, websites like CNBC even publish a ‘Disruptor 50’ – a kind of FTSE 100 for transformational companies.(2) But how are more established companies able to respond to increased customer demands and nimbler, innovative competitors within industries that are transforming fast – and often beyond recognition? How can a well-established commercial organisation increase it’s profitability and Public Sector organisations increase return from budget, say by 5% per annum, accompanied by a satisfying surge in shareholder and customer value?

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.