Summary
You can use spend analytics software to identify sourcing opportunities, find sources of spending contract leakage, and understand your firm's external spending for financial management purposes. But to realize these benefits, you'll first have to select from a diverse set of spend analytics vendors that vary by size, functionality, geography, and vertical market focus. Sourcing and vendor management professionals should use this report to understand the value they can expect from a spend analytics software provider and to select one based on size and functionality.
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