In the face of economic uncertainty, retailers have had to adjust operations and identify opportunities to stay agile. In this environment, the most resilient retailers are taking the time to evaluate their strategy, both for how to manage cash and how to build robust and resilient supply chains. It has now become even more important to have the systems in place to manage business spend and optimize processes so that budget can be prioritized and invested where it is the most impactful
Read the 2020 Retail Business Spend Management (BSM) Benchmark Report with 8 powerful KPIs to help you spend smarter
, based on actual spend transactions and processing activity of US$1.7T of cumulative global business spend. You’ll learn why Staples, Whole Foods, Kroger, TJ Maxx, and lululemon
, among others, are concentrated on optimizing four key areas:
- Process Efficiency -- How efficient are your transactional BSM processes?
- Digitization -- How successful have you been in digitizing your BSM processes?
- Risk Management -- How effectively are you driving compliance and mitigating third-party risk?
- Spend Optimization - How are you optimizing your spending to get the best rates and savings opportunities?
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