Adopting a Proactive Approach to Client Expenses with Spend Management
As an accounting professional, you might consider expense management and spend management interchangeable words. The ideas do overlap in some ways. However, the two concepts have a distinct difference.
Expense management focuses on the money employees spend on behalf of their company, including travel, events, meals, and more.
Spend management represents a holistic approach to handling all cash flow—whether it’s for meals, online ads, software, or payments to vendors. It provides a proactive path for accounting firms to help their clients track, analyze, and control spend.
Welcome to the next evolution of addressing expenses, one that follows the principles of spend management.