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How many Finance Directors can honestly say they have all expenditure under total control? How many FDs have the total picture of costs and commitments and how many are equipped to take a proactive approach to financial management?

During the 90s many organisations invested heavily in ERP and Business Information software, and yet many key financial reports lacked the crucial details of accruals and commitments. Reliance on too little information too late left most executives without the means to anticipate problems or identify how to tighten the corporate belt.

Even in the most modern and innovative organisations, the expenditure process is still typically managed using paper. This results in enormous inefficiencies and prevents meaningful analysis of spend. Too often employees break free from the administrative burden and buy things any way they can. Recent research undertaken by the Warwick Business School, suggested that as much as 60% of corporate spending in the UK is either uncontrolled or too process-intensive.

This paper considers the following:

• What are the significant problems managing expenditure today?
• How can these problems be solved cost-effectively?
• Evaluating the case for Spend Control

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