Tail spend solutions help process and fulfill spend on noncritical goods and services, which are supplied by vendors that are not actively managed by procurement. Most procurement organizations only strategically manage part of their spend, prioritizing high-volume and spend categories. This leaves what is referred to as the “tail” of an organization’s spend unmanaged. In addition to providing visibility into all types of spending, these solutions also automate key procurement processes and provide detailed insights into spending patterns through dashboards. Actively managing tail spend improves spend visibility and coverage, operational efficiency, and purchasing controls. The end users can still make one-time purchases to do their jobs without adding to procurement’s workload.
"Financial efficency! "
I like the UI and how easy it is to use. Overall the experience has been great, organic, and seamless. It is integrated with Slack and also with TravelPerk which we often use, plus with the HR systems. The initial setup took some time and there was also some learning curve, but it was worth it.
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It is a gamechanger in finding and onboarding new suppliers, especially when you have a very dynamic environment where requests pop up every day with new/different requirements. From purchase requests to sourcing to awarding vendors, it all works smoothly.
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