Good news for Spend Matters groupies... looks like our cause has moved into the CFO's office. Just this past week, readers have passed along two pieces that show that Spend Management is capturing the attention of the CFO.
First CFO Magazine prints this article that highlights the emerging role of Spend Management in the enterprise business. It also discusses Spend Management tools and solutions: "many analysts say that to take full advantage of spend management, companies may have to piece together several packages or services, although there has been plenty of M&A activity in the space as some vendors work toward more-complete offerings. Others are content to combine software and services with consulting help in specific areas in which even a savvy purchasing department might lack the requisite knowledge to craft the best contracts." And so on.
Then, Line 56 prints an article featuring some of the highlights from a recently released American Express survey of CFOs of small and medium sized organizations that also cites the rise of Spend Management. According to Line 56, "half of the CFOs said that "identifying and controlling unauthorized spending" was a high priority in 2005...This is a reminder that spend management...is a big issue not just for big companies."
Last year, if you told me that two feature studies / articles focused on Spend Management and the CFO would be released in a year's time, within a few days of each other, I would have chuckled.
But not anymore! Spend Management is here to stay. And it's not just procurement organization carrying the torch.