PROCUREMENT STRATEGY
Volatility, visibility and value define success for modern procurement operations, which is why effective spend management has become one of the most powerful levers an organisation can pull.
Every pound, dollar or euro spent carries strategic weight – influencing not just cost structures, but supplier resilience, ESG performance and innovation capacity. For procurement leaders, the challenge is no longer about merely controlling spend; it is about mastering it.
Spend management is the end-toend process of planning, executing and analysing how money moves through an organisation. It covers everything from sourcing and supplier selection to invoicing, payments and performance evaluation.
When executed well, it enables procurement teams to see clearly where money is being spent, identify inefficiencies and channel resources toward activities that truly drive business value.
Without it, even the most sophisticated sourcing strategy risks collapse under the weight of fragmented data, inconsistent processes and uncontrolled tail spend.
In short, it transforms procurement from a transactional function into a strategic business enabler. But achieving that transformation depends on one critical success factor: ensuring the systems and tools actually work for the company – not the other way around.
90 December 2025