Online sales continue to defy the high street doom and gloom with spending up by 13% in comparison to last year’s figures, according to the eRetail Sales Index recently published by CapGemini in accordance with IMRG.
The alleged reason for this increase in online spending is because shoppers want to avoid impulse purchases (usually made on the high street) and take the time to compare prices and plan their spending.
A similar exercise is being carried out by many organisations that have turned their full attention to spending and savings. This approach to spend management can easily be conducted with the correct functionality of a purchase-to-pay system, where contracts, terms, prices, discounts and budgets can all be managed accordingly.
Having clear visibility of spend is imperative for any procurement team and when looking at numerous suppliers a clear comparable format is essential. So taking a leaf out of the spend savvy consumer its time to stand back and compare.
