What every CFO should know on how to take back control of corporate spend

With numerous departmental budget holders, it can be difficult to keep track of spending. Budget holders have grown accustomed to keeping track of their own budgets and spending using manual spreadsheets.

Because of this, a business becomes much more vulnerable to risks such as maverick spending and fraud, damaging the financial health of a business. This is why finance teams need to have full visibility of the all spending activity across departments.

Without a spend control strategy for the entire purchase to pay process, finance departments find themselves left with little to no control.