What is spend volume in SAP (SAP-LEGAL - Global Field Legal)?

SAP Term: spend volume

• Component: SAP-LEGAL

• Component Name: Global Field Legal

• Description: Spend Volume is the total monetary amount of all purchase orders in a contract year.

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• Key Concepts: 
  Spend volume is a term used in SAP-LEGAL Global Field Legal Spend Management. It is the total amount of money spent on legal services, such as legal advice, court costs, and other related expenses. It is used to track and manage legal spending across an organization. 
  
  How to use it: 
  In SAP-LEGAL Global Field Legal Spend Management, spend volume can be tracked and managed by setting up a budget for legal services and tracking the actual spending against that budget. This allows organizations to monitor their legal spending and ensure that it is within their budget. 
  
  Tips & Tricks: 
  When setting up a budget for legal services, it is important to consider the type of services that will be needed and the estimated cost of those services. This will help ensure that the budget is realistic and that the organization is not overspending on legal services. 
  
  Related Information: 
  SAP-LEGAL Global Field Legal Spend Management also provides tools for tracking and managing other aspects of legal spending, such as invoices, contracts, and payments. These tools can help organizations better manage their legal spending and ensure that they are getting the most value for their money.