Why now is the right time to tackle maverick spend
In the current economic climate, every penny counts for businesses, and it’s procurement’s job to make sure the organisation is getting what it needs, at the right quality, at the right time and at the best possible price.
In direct categories that are central to the business’s operations, and typically high-value spend, most procurement teams have this under control. In indirect categories, though, it’s often a different story. Businesses will spend significant amounts on low-value items, spread across vast numbers of suppliers, meaning having direct relationships and regular reviews is often not an option. While buying from an unauthorised supplier may not appear to be a big deal for internal customers, the consequences of not having control over spend can be serious.
In this whitepaper, produced in partnership with Workday, we examine the negative consequences of maverick spend and the steps to effectively manage spend.
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