Today, while most organizations run a tight ship when it comes to managing their strategic spend, managing tail spend requires a different and a targeted approach.
Global supply chains generally constitute of multiple procurement systems and marketplaces, running within the organizations. With a disconnected experience, adoption and compliance falters, as sourcing falls out of sync with procurement. With little control over the way procurement happens for non-strategic items, it is estimated that on an average, tail spend increase the annual spend by 5-10%, leading to millions of dollars in maverick spend for large organizations!
ProcureEdge Tail Spend Management provides a holistic layered approach to managing Tail Spend by enabling end to end spend visibility, apply category management rigor to manage demand and enable new age purchase experience for compliant buying.