It’s a major understatement to say that 2020 was a challenging year. The pandemic and its subsequent global events profoundly affected us all. We had to cope with drastic changes in both our personal and our professional lives.
Those of us in the Business Spend Management (BSM) community faced challenges that were unlike anything we’d seen before. We had to figure out how to:
Quickly secure personal protective equipment (PPE) while facing global shortages 
• Manage suppliers who were at risk of going under or being unable to meet their commitments 
 • Control costs urgently for the finance health of our businesses 
• Protect cash flow by providing up-to-date visibility into liabilities and by optimizing payments to suppliers 
• Support the rapid shift to online services, including remote work, virtual collaboration, and fully digital processes 
• Re-examine our supply chains from the perspective of diversity and inclusion, in addition to sustainability, for better Environmental, Social, and Corporate Governance (ESG)

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