On average, 40%–45% of a company’s revenue goes to procurement spend. This makes spend management a critical business function; arguably the most critical.
Yet, a recent IDC survey revealed that more than 50% of organizations are still working with fragmented applications to manage spend. They’re feeling the impact in the form of excessive logistics costs, high inventory-carry costs, and challenges in driving compliance.
If your organization is looking to move to the next level of spend management, this infographic provides some interesting findings from the IDC survey.