Figuring out how to handle the 85–90% of suppliers that constitute only 5–10% of spend without consuming the majority of the procurement staff’s time is far from easy to fix. And since time is money, freeing up that time to focus on strategic enterprise priorities rather than pushing paper and keeping the lights on is a huge opportunity.
In this paper, Spend Matters Chief Research Officer Pierre Mitchell delves deep into a number of key tail spend management challenges and strategies, such as:
• Symptoms and root causes of tail spend problems
• Benchmarks that organizations currently use to manage tail spend (and exploring which of these work, which don’t and why)
• Ways organizations can reduce cost and increase broader effectiveness through emerging approaches to managing tail spend
• 10 areas procurement can use B2C approaches successfully for B2B buying
Start fixing your tail spend and free up your team to focus on strategic enterprise priorities and suppliers.
CEO and Creative Director, The Third Floor