What does 'Spend Analytics' mean?

Spend analytics is a crucial feature in software that allows businesses to gain a better understanding of their spending habits and patterns, enabling them to make informed decisions about their finances. It involves analyzing data from various sources, such as invoices, purchase orders, and contracts, to provide a comprehensive view of how and where a company's money is being spent. With spend analytics, businesses can break down their spending by categories, suppliers, and departments, giving them a detailed and accurate picture of their expenses. This