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Spend Analysis is getting Personal

"This is too much, I have to cut down my expenses on Clothes, Shoes, and Watches" - shouted my colleague suddenly in office, looking at his laptop screen. What happened? Everybody started staring at him - as he is known for flamboyance, in which apparels surely plays a part. The screen he was looking at was his bank website displaying his credit card "spend analyzer" tab. The graph showed that the total amount he spend in last one year on his credit card - 50% of it went to apparel and that's the reason of all this noise.

So "Spend Analysis" reached home finally and its hitting everybody's eyes (or wallets). Till recently only billion - million dollars companies are privy of using buzzwords like spend analysis, identify potential savings and catch low hanging fruits etc. As world is through deep down recession, the world sees need to save those pennies for another dooms day. But where do you find all that money? So the spend analysis of your expense is catching up. Banks are providing these tools to customer as a value addition - where one can check - see those numbers - scream for a minute - and next time pull a credit card think twice. Now that’s the saving everybody wants.

I am happy for my friend.

Thanks
Prashant Mendki

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