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Your one stop shop for transformative insights and groundbreaking trends in the procurement industry today

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Gaining Visibility Into Unmanaged Spend Can Lead to Innovation

Small purchases by employees for products like office supplies or services like office cleaning may not seem like a big deal, as you may think that whatever your company spends in these areas pales in comparison to your largest expenses like payroll and rent. When left unmanaged, this spend can start to add up, create compliance risk, and ultimately lead to poor business decisions. The g...

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Tail Spend Management: Hype or Real?

While tail spend management has traditionally been more of an afterthought compared to larger, more strategic spending, these small purchases can still add up to significant amounts and affect organizations’ risk management, employee experience and more. Fortunately, more procurement leaders are paying attention to tail spend now, particularly with the advent of e-procurement platforms l...

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How Poor Spend Data Affects Financial Business Decisions

Businesses are increasingly utilizing data to optimize everything from marketing to talent recruitment, and procurement should be no exception. Yet many companies have significant room for improvement in this regard, as they only have visibility into how they’re spending with their largest suppliers, while many smaller ones get overlooked. In fact, only 6% of procurement leaders say they...

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5 Ways to Improve Spend Management Without a Procurement Department

For midsize companies without a procurement department, spend management may be somewhat of an afterthought. Understandably, these businesses often feel like they need to direct their limited resources towards other initiatives such as increasing sales, but today’s technology makes it increasingly possible for midsize companies to easily improve spend management. In doing so, midsize bus...

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Three Ways Predictive Technology Improves Tail Spend Management

When it comes to procurement, the little things count. Small supplier relationships that tend to sit outside the strategic focus of an organization—the tail spend of procurement—may seem insignificant, but altogether, they can comprise an unwieldy group that outnumbers core vendors and cuts into profit margins. Fortunately, procurement teams can utilize predictive technologies that turn ...

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