spend management policies

Spend management policies are guidelines set by organizations to control and optimize how money is spent. They ensure that purchases are necessary, cost-effective, and align with company priorities. These policies help prevent overspending, promote transparency, and maintain budget discipline. Typically, they specify approval processes, preferred vendors, and expense limits, fostering responsible financial behavior across the organization. Overall, effective spend management helps organizations make smarter financial decisions, reduce waste, and support long-term stability.