In today’s fast-moving world, your organization needs to stay ahead of the curve as expectations of the C-Suite rise, retail bankruptcies increase, “direct-to-consumer” brands grow, increasingly blurred lines between rental, resale, and traditional retail…the list goes on. With this complicated retail landscape, there comes a time to go back to the basics and look at how you can transform some of your most important processes at a fundamental level.

And it all starts with spend management. Here are eight overlooked spend management initiatives to kickstart any major strategy rehaul and transform the way you do business.