spend governance

Spend governance refers to the processes and controls organizations put in place to manage and oversee their expenses effectively. It ensures that spending aligns with strategic goals, budgets, and policies, while minimizing waste and risks. This involves setting clear budgets, monitoring expenditures, making informed purchasing decisions, and reviewing costs regularly. Good spend governance helps organizations optimize their resources, achieve value for money, and maintain financial accountability. It’s about creating a structured approach to managing costs so that spending supports overall business success and sustainability.