When it comes to evaluating the performance of your company, you need to generate quality data and know how to make sense of it. It’s easier than ever to generate data, but the amount of data can sometimes be overwhelming.Continue Reading
In our previous episode, we shared five different types of budgets you can use to understand the finances at your company. While these budgets can do a lot to shape the way people think about your company’s finances, they won’t do much good if they don’t lead to action.
Procurement compliance involves adhering to protocols for the share of company spend that procurement is supposed to control—in other words, it’s the percentage of purchasing that is contracted and approved based on an established set of guidelines.Continue Reading
There are many hidden pitfalls when using manual processes to manage company spend. This simple infographic shines some light on the issues you might be struggling with.
Most successful managers know that you can’t make fiscally sound decisions without checking the numbers. In an effort to help managers make wise decisions, companies put a budget in place and check it against the numbers. If you have the numbers and the budget, you might be tempted to think you have all the information you need.Continue Reading