210224 - Tail spend - LP 3

Taming Tail Spend to Realize Savings and Enhance Compliance

Watch instantly on-demand | 30 minutes

Summary:

Tail spend issues are quite common in most organizations and often account for 20-25% of the company's total spend. This "tail" is often the low dollar value spend across hardware, software, marketing, office supplies, MRO, etc., which may be one-off or recurring purchases. They may have to be procured in a shorter timeline and where standardized procurement processes are difficult to follow, which sometimes result in maverick or rogue spending.

Looking at the tail item by item, the costs are relatively low. But the problems start when those small "insignificant" purchases start adding up and continue to grow. Moreover, most organizations put too little effort into the tail spend area or struggle to seize the opportunity it presents. It is no wonder that tail spend management can help drive savings and enhance compliance across the business.

In the past, tail spend has been challenging to manage for procurement. Today, it is possible to effectively address and tackle the tail by leveraging advanced analytics and digital technologies.

This webinar will cover:
  • What tail spend is, and how to tackle and ultimately drive value from it
  • Case example: How a customer used procurement analytics to address the tail
  • A live demo of Ignite Procurement focusing on tail spend

This webinar is suitable for professionals in procurement, finance, strategy, business development, and others with an interest in the topic.

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SPEAKERS

Sigbjorn Nome

Sigbjørn Nome

CEO & Product Director​

+47 944 88 923 sigbjorn.nome@ignite.no Linkedin

Sigbjørn is the co-founder of Ignite Procurement, and former BCG consultant, with extensive experience from procurement and cost reduction projects within a broad range of industries.

Sanjay Agarwal - Proacure

Sanjay Agarwal

CEO & Founder

+1 925.750.8475 sanjay@proacure.com Linkedin

Sanjay is the founder of Proacure Corporation, a procurement analytics startup in the San Francisco Bay Area. He has 20+ years of experience in procurement with government, corporations, and as a third-party provider.

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