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As maverick spending, or rogue buying, can account for up to 80% of a company's total spend, the inherent savings potential is often substantial. We have shared five steps to help you to get control of your maverick spend.

Through multiple procurement projects, we've participated in hundreds of negotiation meetings with suppliers, that's provided us with valuable insight into how to ensure a successful renegotiation process. In this article, we share six practical tips on how to secure sustainable, long-term results from a renegotiation.

There are several procurement levers you can utilize to drive cost reductions. Bundling, or consolidating spend, is one of them. But how do you use procurement analytics to identify bundling opportunities?

Procurement teams continuously focus on minimizing transaction costs and costs related to the purchase-to-pay (P2P) process. Although the trend is moving towards automated and self-guided P2P processes, there still might be some opportunities to explore.

Understanding and analyzing your company’s spend structure is often the first step towards laying the foundation of a data-driven procurement organization. But for many companies who've jumped into the analytics bandwagon, translating analytics to fact-based actions that enable realizing procurement savings is a tough nut to crack. This article will discuss some promising cost-reduction strategies enabled by analytics that can grow your procurement savings exponentially.

The concept of tail spend analytics is widely acknowledged but seldom optimized by the procurement departments. As for most organizations, tail spend management is an uphill battle. This article will spotlight tail spend and how the right mix of advanced analytics and technology can help you tame the beast.

Bundling is a vital procurement lever to help drive cost reductions across your organization. Follow these six steps to succeed and maximize savings during the process.

Maverick spending is probably a well-known problem for most organizations and procurement professionals. Let's look at how you can utilize procurement analytics to identify such challenges.