Spend and Savings Management enables organizations to strategically segment and manage procurement categories to optimize sourcing and ultimately drive hard dollar savings.

- Category Taxonomy Setup : The Spend Category Taxonomy Setup feature allows category managers to import and manage their organizational taxonomy—a hierarchical structure for sourcing goods and services. By integrating this taxonomy into the ServiceNow system, category managers can streamline procurement activities, track spending, and measure savings more effectively by categories compared to how they were doing it by Product categories before.
- Category Manager Workspace : A new tab within the Source-to-Pay workspace which enables Sourcing Managers to proactively uncover cost-saving and risk-reduction opportunities within their category by consolidating insights from Spend, Savings, Contract, and Supplier Analysis into a single workspace. This eliminates data silos, streamlines decision-making, and ensures timely action on sourcing opportunities. Identified opportunities can be seamlessly converted into sourcing pipeline projects, driving efficiency and cost optimization.
- Spend/ Savings Dashboards: Spend & Savings dashboards enable Category and Sourcing Managers to quickly and easily analyze spend, savings, contract, and supplier data by category, business unit, or department. This feature helps them identify savings opportunities, monitor compliance, optimize sourcing strategies, and streamline reporting to leadership on key category metrics, ensuring more efficient and data-driven decision-making.