Introduction

“Let our worrying become advance thinking and planning , “ good morning everyone I am priyanshi
sharma and I and the rest of the people presenting are here to speak about an essential tool that
can have ground changing results during the time of crisis and its not just for companies you can use
it in your personal life as well . but before we begin the how part its important to understand what
… ??

So what is downturn : downturn implies a decline , it basically marks the end of the period
of growth in the business cycle. Declines are characterized by decreased levels of consumer
purchases (especially of durable goods) and, subsequently, reduced production
by businesses.

The key features of an economic downturn include:

 Negative or very low economic growth

 Rising unemployment
 Falling asset prices – shares and house prices
 Low confidence and falling investment. (the accelerator theory suggests
that a fall in the rate of economic growth is enough to lead to lower
unemployment)
 Rising spare capacity (negative output gap)
 Increasing government borrowing (due to higher government spending
on benefits and lower tax revenue.

Spend management
Spend management is the tried and true practice of comprehensively managing all
supplier relationships and company purchasing to identify every dollar spent and get the
most out of it. Spend management best practices integrate and automate all spend-
related activities from source to settle so that buying happens as planned and suppliers
get paid in compliance with contracts.

By taking a big-picture view of spending, more addressable spend can be brought under
management, driving more organizational value. The value is derived from:

 Greater efficiency – from automating manual, error-prone processes

 Lower supply costs and risks – by knowing exactly what is being bought, from
whom, and for how much

 More effective collaboration – between trading partners and cross-functional

teams

 Improved productivity – by freeing time and resources to focus on more

strategic activities
 the marketing organizations that get the most value from
spend management do four things well.
These are the four pillars of marketing spend
managemen these will be explained one by one in the
coming slides .

1 ) Think through which services you really need , 2 ) Change the

way the work is done 3 ) . Optimize where the work is done 4 ) . Pay the
right price .