BSM’s evolution has followed a pattern similar to that of enterprise resource planning (ERP), customer relationship management (CRM) and human capital management (HCM) systems. In each case, information technology solutions first arrived to address specific, narrow pain points of manual business processes, like managing sales contact information, database marketing and post-sales customer support in the case of CRM. Many such point solutions were eventually integrated into more comprehensive CRM systems, which by dint of their integration created more value than the sum of their parts. Similarly, BSM evolved out of an era when all businesses relied on manual methods or simple tools, like spreadsheets, to manage their spending. These manual methods are time-consuming and prone to human error, so with technological advancements like the advent of automation, businesses began adding systems to manage their spending, such as accounts payable, employee expense management and procurement systems. BSM emerged in recent years to unify those spending management systems. Serving as a “command center” for supplier records and financial control, BSM illuminates mistakes and inefficiencies so that businesses can realize more value from their financial processes and vendor relationships. These tools all work together to track data, curtail risk, save money and reduce complexity.