In past blog entries related to Maverick Spend, we’ve really only discussed spend compliance and process compliance from an internal viewpoint, but suppliers (Supplier Compliance) are also part of the equation. When buyers use spend analytics to identify non-compliance, many root causes tie back to suppliers, such as: incorrect catalog/PO pricing relative to contracts incorrect…
The challenge: Unmanaged Spend The Gartner Group states that ‘Maverick Spend’, or uncontrolled spend…at times referred to as Tail Spend, often falls below the radar of enterprise procurement policies because the transactions that constitute it are relatively small. Yet, cumulatively, these maverick transactions form a substantial sum. In many cases, enterprises are spending more in…
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