Tail-spend is an area that is often ignored, or at least not closely managed, because there are so many suppliers and the idea of tackling them can seem overwhelming.
However, by addressing the tail-end of spend, your teams can deliver significant savings in terms of reduced unit prices and process improvements - both of which free up money and valuable resources.
This paper explores the typical challenges of managing tail-spend, and the strategies and tools that make it easy to extract savings so you can achieve:
- Noticeable cost savings.
- Better visibility of where you spend money.
- A reduction in maverick and off-contract buying.
- A sizable cut in the number of invoices that need processing.
- A reduction in the time needed to manage suppliers.