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Spend management is a crucial aspect of overseeing corporate purchasing comprehensively. Its primary goals are to maximize value, minimize risks, and optimize the total cost of ownership. Effective spend management is essential for organizations aiming to reduce costs and improve operational efficiency while enhancing overall financial health. By employing key strategies and best practices, organizations can leverage technology and data analytics to achieve sustainable cost savings. https://www.icpx.ai/pdf/icpx-whitepaper-3.pdf