The goal is to understand where the business' money goes so that they can make sure any excesses don't happen again in future - this will protect them from losing profit due an inefficiently managed budget!
The process of spend analysis entails capturing, categorising and analysing all expenses or their spendings. The goal is to understand where the business' money goes so that they can make sure any excesses don't happen again in future - this will protect them from losing profit due an inefficiently managed budget! Spend management includes gathering data about what has been spent already as well as tracking how much remains unused at each point during production/distribution channels which could lead into questions like “Do we have enough inventory?"
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