{"id":48019,"date":"2023-01-26T10:43:58","date_gmt":"2023-01-26T15:43:58","guid":{"rendered":"https:\/\/simfoni.com\/?p=48019"},"modified":"2023-01-26T11:50:20","modified_gmt":"2023-01-26T16:50:20","slug":"3-ways-spend-management-can-ease-inflationary-pressures","status":"publish","type":"post","link":"https:\/\/simfoni.com\/spend-management\/3-ways-spend-management-can-ease-inflationary-pressures\/","title":{"rendered":"3 Ways Proper Spend Management Can Ease Inflationary Pressures"},"content":{"rendered":"<div data-elementor-type=\"wp-post\" data-elementor-id=\"48019\" class=\"elementor elementor-48019\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section class=\"has_eae_slider elementor-section elementor-top-section elementor-element elementor-element-b0b887a elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-eae-slider=\"81087\" data-id=\"b0b887a\" data-element_type=\"section\" data-e-type=\"section\" data-settings='{\"pix_scale_in\":\"none\"}'>\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"has_eae_slider elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-551b4ee\" data-eae-slider=\"48917\" data-id=\"551b4ee\" data-element_type=\"column\" data-e-type=\"column\" data-settings='{\"pix_scale_in\":\"none\"}'>\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-9bb72ef elementor-widget elementor-widget-text-editor\" data-id=\"9bb72ef\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p><span class=\"NormalTextRun SCXW228112783 BCX0\">All c<\/span><span class=\"NormalTextRun SCXW228112783 BCX0\">ompanies are <\/span><span class=\"NormalTextRun SCXW228112783 BCX0\">navigating an uncertain market<\/span> <span class=\"NormalTextRun SCXW228112783 BCX0\">due to<\/span><span class=\"NormalTextRun SCXW228112783 BCX0\"> high <\/span><span class=\"NormalTextRun SCXW228112783 BCX0\"><span class=\"\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">inflation<\/span>, <\/span><span class=\"NormalTextRun SCXW228112783 BCX0\">which<\/span><span class=\"NormalTextRun SCXW228112783 BCX0\"> challenge<\/span><span class=\"NormalTextRun SCXW228112783 BCX0\">s<\/span> <span class=\"NormalTextRun SCXW228112783 BCX0\">the <\/span><span class=\"NormalTextRun SCXW228112783 BCX0\">traditional <\/span><span class=\"NormalTextRun SCXW228112783 BCX0\">ways<\/span><span class=\"NormalTextRun SCXW228112783 BCX0\"> companies typically seek out savings<\/span><span class=\"NormalTextRun SCXW228112783 BCX0\">.<\/span><\/p><p><span class=\"TextRun SCXW261170682 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"auto\"><span class=\"NormalTextRun SCXW261170682 BCX0\">While<\/span><span class=\"NormalTextRun SCXW261170682 BCX0\"> <span class=\"\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">inflation<\/span> usually eats into the<\/span><span class=\"NormalTextRun SCXW261170682 BCX0\">ir<\/span><span class=\"NormalTextRun SCXW261170682 BCX0\"> bottom line,<\/span><span class=\"NormalTextRun SCXW261170682 BCX0\"> some companies <\/span><span class=\"NormalTextRun SCXW261170682 BCX0\">see it as an <\/span><span class=\"NormalTextRun SCXW261170682 BCX0\">opportunity to create a competitive advantage and aggrandize the role of <a href=\"https:\/\/simfoni.com\/procurement\/\" target=\"_blank\" rel=\"noopener\"><strong>procurement<\/strong><\/a> within the<\/span> <span class=\"NormalTextRun SCXW261170682 BCX0\">organization. <\/span><span class=\"NormalTextRun SCXW261170682 BCX0\">Using <a href=\"https:\/\/simfoni.com\/spend-management-101\/\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Spend Management\" target=\"_blank\" rel=\"noopener\"><span class=\"\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">spend management<\/span><\/a> as a strategic tool can help businesses not only survive but thrive through times of uncertainty. <\/span><span class=\"NormalTextRun SCXW261170682 BCX0\">Here are 3 ways <a href=\"https:\/\/simfoni.com\/procurement\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Procurement\" target=\"_blank\" rel=\"noopener\">procurement<\/a> leaders can mitigate the risk of <span class=\"\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">inflation<\/span> and achieve their long-term goals.<\/span><\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"has_eae_slider elementor-section elementor-top-section elementor-element elementor-element-db7806e elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-eae-slider=\"15315\" data-id=\"db7806e\" data-element_type=\"section\" data-e-type=\"section\" data-settings='{\"pix_scale_in\":\"none\"}'>\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"has_eae_slider elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-744151f\" data-eae-slider=\"49298\" data-id=\"744151f\" data-element_type=\"column\" data-e-type=\"column\" data-settings='{\"pix_scale_in\":\"none\"}'>\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-4adc296 elementor-widget elementor-widget-heading\" data-id=\"4adc296\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Here are 3 ways proper <span class=\"\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">spend management<\/span> can ease <span class=\"\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">inflation<\/span>ary pressures:&nbsp;<\/h2>\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"has_eae_slider elementor-section elementor-top-section elementor-element elementor-element-3e88233 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-eae-slider=\"41253\" data-id=\"3e88233\" data-element_type=\"section\" data-e-type=\"section\" data-settings='{\"pix_scale_in\":\"none\"}'>\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"has_eae_slider elementor-column elementor-col-66 elementor-top-column elementor-element elementor-element-111f533\" data-eae-slider=\"70627\" data-id=\"111f533\" data-element_type=\"column\" data-e-type=\"column\" data-settings='{\"pix_scale_in\":\"none\"}'>\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-89f6478 elementor-widget elementor-widget-heading\" data-id=\"89f6478\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">1. Get Clear Visibility into <span class=\"\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">Tail Spend<\/span>:<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5249aff elementor-widget elementor-widget-text-editor\" data-id=\"5249aff\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p><span class=\"NormalTextRun SCXW176359274 BCX0\">Indirect spend<\/span><span class=\"NormalTextRun SCXW176359274 BCX0\">, or &lsquo;<a href=\"https:\/\/simfoni.com\/tail-spend-management-guide\/\" target=\"_blank\" rel=\"noopener\"><span style=\"color: #ff6600;\"><strong><span class=\"\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">tail spend<\/span><\/strong><\/span><\/a><\/span><span class=\"NormalTextRun SCXW176359274 BCX0\">,&rsquo;<\/span><span class=\"NormalTextRun SCXW176359274 BCX0\"> is often overlooked as a potential area for savings, however, there are significant opportunities to explore by gaining visibility in this area by<\/span> <span class=\"NormalTextRun SCXW176359274 BCX0\">identifyin<\/span><span class=\"NormalTextRun SCXW176359274 BCX0\">g<\/span><span class=\"NormalTextRun SCXW176359274 BCX0\"> categories with rising costs to<\/span> <span class=\"NormalTextRun SCXW176359274 BCX0\">identif<\/span><span class=\"NormalTextRun SCXW176359274 BCX0\">y<\/span><span class=\"NormalTextRun SCXW176359274 BCX0\"> points of <span class=\"\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">inflation<\/span>ary pressure and<\/span> <span class=\"NormalTextRun SCXW176359274 BCX0\">leveragin<\/span><span class=\"NormalTextRun SCXW176359274 BCX0\">g<\/span><span class=\"NormalTextRun SCXW176359274 BCX0\"> this insight to negotiate better pricing and improve terms. Utilizing <a href=\"https:\/\/simfoni.com\/sourcing\/\" target=\"_blank\" rel=\"noopener\"><span style=\"color: #ff6600;\"><strong>sourcing<\/strong><\/span><\/a> tools such as <\/span><span class=\"NormalTextRun SCXW176359274 BCX0\"><a href=\"https:\/\/simfoni.com\/auctions\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Auctions\" target=\"_blank\" rel=\"noopener\">eAuctions<\/a><\/span><span class=\"NormalTextRun SCXW176359274 BCX0\"> can help you obtain competitive pricing outside your network. These tools allow you to directly engage with your suppliers in real time to request new <span class=\"\"  data-mobile-support=\"0\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex='0' role='link'>bid<\/span>s and track the success of each submission.&nbsp;<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-89dba34 elementor-widget elementor-widget-heading\" data-id=\"89dba34\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">2. Seek Alternative Suppliers and Consolidation:<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e9c2da4 elementor-widget elementor-widget-text-editor\" data-id=\"e9c2da4\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p><span class=\"NormalTextRun SCXW173740306 BCX0\">Fewer suppliers means improved supply chain efficiency, lower <\/span><span class=\"NormalTextRun SCXW173740306 BCX0\">costs,<\/span><span class=\"NormalTextRun SCXW173740306 BCX0\"> and increased negotiation power &ndash; <\/span><span class=\"NormalTextRun AdvancedProofingIssueV2Themed SCXW173740306 BCX0\">all of<\/span><span class=\"NormalTextRun SCXW173740306 BCX0\"> which <\/span><span class=\"NormalTextRun SCXW173740306 BCX0\">impact on<\/span><span class=\"NormalTextRun SCXW173740306 BCX0\"> your bottom line positively. High-spend items should have cost-effective alternatives for the same categories. Procurement teams can <\/span><span class=\"NormalTextRun SCXW173740306 BCX0\">identify<\/span><span class=\"NormalTextRun SCXW173740306 BCX0\"> alternatives through a Marketplace solution, which helps companies assess <a href=\"https:\/\/simfoni.com\/supplier-management\/what-is-vendor-risk-management-why-and-how-it-is-implemented\/\" target=\"_blank\" rel=\"noopener\"><strong><span style=\"color: #ff6600;\">supplier risks<\/span><\/strong><\/a> and those that align with their objectives<\/span><span class=\"NormalTextRun SCXW173740306 BCX0\">.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-45bd7e9 elementor-widget elementor-widget-text-editor\" data-id=\"45bd7e9\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"color: #ff6600;\"><strong>Read More:-<\/strong><\/span> <strong><a href=\"https:\/\/simfoni.com\/procurement-strategy\/5-ways-to-improve-supply-chain-management-strategy-in-2023\/\" target=\"_blank\" rel=\"noopener\">5 Ways to Improve Your Supply Chain Management Strategy in 2023<\/a><\/strong><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"has_eae_slider elementor-column elementor-col-33 elementor-top-column elementor-element elementor-element-66b21d7\" data-eae-slider=\"63259\" data-id=\"66b21d7\" data-element_type=\"column\" data-e-type=\"column\" data-settings='{\"pix_scale_in\":\"none\"}'>\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-1ada380 elementor-widget elementor-widget-text-editor\" data-id=\"1ada380\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<iframe src=\"https:\/\/simfoni.com\/web-stories\/3-ways-spend-management-can-ease-inflationary-pressures\/\" width=\"auto\" height=\"550px\"><\/iframe>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"has_eae_slider elementor-section elementor-top-section elementor-element elementor-element-b9c26da elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-eae-slider=\"35331\" data-id=\"b9c26da\" data-element_type=\"section\" data-e-type=\"section\" data-settings='{\"pix_scale_in\":\"none\"}'>\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"has_eae_slider elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-10d6e50\" data-eae-slider=\"55439\" data-id=\"10d6e50\" data-element_type=\"column\" data-e-type=\"column\" data-settings='{\"pix_scale_in\":\"none\"}'>\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-d1d376f elementor-widget elementor-widget-heading\" data-id=\"d1d376f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">3. Utilize <span class=\"\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">Strategic Sourcing<\/span> Tools:<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4440ad0 elementor-widget elementor-widget-text-editor\" data-id=\"4440ad0\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p><span class=\"NormalTextRun SCXW214321916 BCX0\"><span class=\"\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">Digital procurement<\/span> solutions with <a href=\"https:\/\/simfoni.com\/strategic-sourcing\/\" target=\"_blank\" rel=\"noopener\"><span style=\"color: #ff6600;\"><strong><span class=\"\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">strategic sourcing<\/span><\/strong><\/span><\/a> tools can help procurement teams negotiate better contract terms and secure <span class=\"\"  data-mobile-support=\"0\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex='0' role='link'>bid<\/span>s from multiple suppliers. Current economic <span class=\"\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">inflation<\/span>ary pressures have heightened the need for cloud-based tools, like those provided by <\/span><span class=\"NormalTextRun SCXW214321916 BCX0\">Simfoni<\/span><span class=\"NormalTextRun SCXW214321916 BCX0\">, for your company to gain a competitive advantage.&nbsp; Leveraging <a href=\"https:\/\/simfoni.com\/sourcing\/\" data-internallinksmanager029f6b8e52c=\"10\" title=\"Sourcing\" target=\"_blank\" rel=\"noopener\">sourcing<\/a> tools such as <\/span><span class=\"NormalTextRun SCXW214321916 BCX0\">eAuctions<\/span><span class=\"NormalTextRun SCXW214321916 BCX0\"> and RFPs create an environment of competitive <span class=\"\"  data-mobile-support=\"0\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex='0' role='link'>bid<\/span>ding providing greater transparency and most importantly better pricing. Smart sourcing tools can allow procurement leaders to <\/span><span class=\"NormalTextRun SCXW214321916 BCX0\">identify<\/span><span class=\"NormalTextRun SCXW214321916 BCX0\"> categories not yet <\/span><span class=\"NormalTextRun SCXW214321916 BCX0\">impacted<\/span><span class=\"NormalTextRun SCXW214321916 BCX0\"> by <span class=\"\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">inflation<\/span>ary pressures and negotiate favorable terms<\/span><span class=\"NormalTextRun SCXW214321916 BCX0\">.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e4f59db elementor-widget elementor-widget-text-editor\" data-id=\"e4f59db\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"color: #ff6600;\"><strong>Download Now:-<\/strong><\/span>&nbsp; <strong><a href=\"https:\/\/simfoni.com\/supplier-management\/what-is-supplier-management-why-and-how-it-is-implemented\/\" target=\"_blank\" rel=\"noopener\">&nbsp;Supplier Management Handbook<\/a><\/strong><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"has_eae_slider elementor-section elementor-top-section elementor-element elementor-element-44893cb elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-eae-slider=\"12543\" data-id=\"44893cb\" data-element_type=\"section\" data-e-type=\"section\" data-settings='{\"pix_scale_in\":\"none\"}'>\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"has_eae_slider elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-31dfe52\" data-eae-slider=\"67146\" data-id=\"31dfe52\" data-element_type=\"column\" data-e-type=\"column\" data-settings='{\"pix_scale_in\":\"none\"}'>\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-7e8e6c0 elementor-widget elementor-widget-text-editor\" data-id=\"7e8e6c0\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p><span class=\"TextRun SCXW195026419 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"auto\"><span class=\"NormalTextRun SCXW195026419 BCX0\">Now more than ever, organizations rely on procurement leaders to achieve internal alignment, communicate with key suppliers, competitively <span class=\"\"  data-mobile-support=\"0\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex='0' role='link'>bid<\/span>, and negotiate favorable contract terms to avoid the damaging effects of <span class=\"\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">inflation<\/span>. Our sourcing experts at <\/span><span class=\"NormalTextRun SCXW195026419 BCX0\">Simfoni<\/span><span class=\"NormalTextRun SCXW195026419 BCX0\"> can <\/span><span class=\"NormalTextRun SCXW195026419 BCX0\">help <\/span><span class=\"NormalTextRun SCXW195026419 BCX0\">you <\/span><span class=\"NormalTextRun SCXW195026419 BCX0\">mitigate <\/span><span class=\"NormalTextRun SCXW195026419 BCX0\"><span class=\"\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">inflation<\/span>ary pressures <\/span><span class=\"NormalTextRun SCXW195026419 BCX0\">and <\/span><span class=\"NormalTextRun SCXW195026419 BCX0\">achieve your long-term goals<\/span><span class=\"NormalTextRun SCXW195026419 BCX0\">.&nbsp;<\/span><\/span><span class=\"EOP SCXW195026419 BCX0\" data-ccp-props='{\"201341983\":0,\"335559685\":0,\"335559739\":160,\"335559740\":259}'>&nbsp;<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-02f5c7f elementor-widget elementor-widget-text-editor\" data-id=\"02f5c7f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p><strong><span class=\"NormalTextRun SCXW120077022 BCX0\"><a href=\"https:\/\/simfoni.com\/demo\/\" target=\"_blank\" rel=\"noopener\"><span style=\"color: #ff6600;\">Schedule a demo<\/span><\/a> <span style=\"color: #008080;\">to see how <\/span><\/span><span style=\"color: #008080;\"><span class=\"NormalTextRun SCXW120077022 BCX0\">Simfoni&rsquo;s<\/span><span class=\"NormalTextRun SCXW120077022 BCX0\"> intelligent <span class=\"\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">spend management<\/span> platform can give you greater visibility into <\/span><span class=\"NormalTextRun SCXW120077022 BCX0\">your<\/span><span class=\"NormalTextRun SCXW120077022 BCX0\"> spend and an increased bottom line<\/span><span class=\"NormalTextRun SCXW120077022 BCX0\">.<\/span><\/span><\/strong><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>All companies are navigating an uncertain market due to high <span class=\"\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\"><span class=\"\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">inflation<\/span><\/span>, which challenges the traditional ways companies typically seek out savings. While <span class=\"\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\"><span class=\"\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">inflation<\/span><\/span> usually eats into their bottom line, some companies see it as an opportunity to create a competitive&hellip;<\/p>\n","protected":false},"author":1,"featured_media":48023,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"give_campaign_id":0,"footnotes":""},"categories":[528],"tags":[2702,467,458],"class_list":["post-48019","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-spend-management","tag-business-spend-management","tag-spend-management","tag-tail-spend-management"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.2 (Yoast SEO v27.2) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>3 Ways Spend Management Can Ease Inflationary Pressures<\/title>\n<meta name=\"description\" content=\"Using spend management as a strategic tool can help businesses not only survive but thrive through times of uncertainty. 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