Organisations are going into 2021 with their eyes wide open. Cost saving opportunities must not be overlooked and tail spend transformation is a source of massive potential. This summary of the first part of our Tail Spend Management series sets out the 3 steps any company can take to gain a grip on unmanaged spend - leaving you ready to optimise spending and realise substantial gains.

Driving cost savings through tail spend management requires a bit of forward planning. This article focuses on how to make a plan for tail spend transformation - and why keeping things simple is key to success.

No organisation is going to be able to drive savings in the tail without getting a firm grip on maverick, or unplanned spend. Procurement teams throughout the land can tear their hair out over unmanaged purchases but unless a cultural change is made in the company as a whole, the situation won’t resolve any time soon.

Cost savings are rarely absent from corporate agendas and for good reason - after all, spending is a company’s biggest threat to financial success.

Procurement teams are facing new challenges. Purchasing during a time of huge market volatility, not to mention strained budgets and uncertain supply chains requires a steady hand on the wheel. In this article, we start to explore ways how to better manage your tail spend.

The Covid curveball means businesses large and small are leaving no stone unturned in their quest to reduce costs and weather the ongoing economic storm, procurement tech firm Maistro’s newest signing Lawrence Dallaglio believes greater visibility and control over tailspend will play a key part in them achieving their goal.

As we move forward into a new year - from one you may be keen to leave behind - it’s always worth stopping a moment to look back. Take stock. Reflect. As you think about your procurement planning for the year ahead, we outlined some resources to help you on your journey.

The world of digital procurement is a fast-moving and evolving landscape. The opportunities now available to improve the way your organisation purchases goods and services have never been so good, with multiple sourcing and payment solutions on the market. But is your C-suite on board with the desire to change?

Spare a thought for Rishi Sunak. Having set out spending plans amid 11.3% fall in GDP, (the biggest contraction in 300 years) he Government’s Spending Review last month saw the Chancellor forced to layout in stark economic terms, the impact of the past 12 months.