Closed loop spend management (CLSM) is a new way to think about what the organization is spending. It aims to "close the loop" between procurement and supply chain management on the one hand, and planning, budgeting and other finance activities on the other. It’s holistic, transforming the whole organization and establishing new and more collaborative ways of working with digital technology, real-time data, artificial intelligence, and pervasive connectivity. It supports an end-to-end transformation across indirect and direct cost categories while boosting the efficiency, resilience, agility, and sustainability of the supply chain.