One-Click Buying vs. Strategic Buying
One-Click vs Strategic Buying: Can You Have Both? In the world of consumer shopping, one-click buying is the ultimate convenience: tap, buy, done. But in procurement, what looks like simplicity can create chaos. While consumer-like experiences are now expected even in business, blindly adopting one-click buying in procurement leads to hidden risks, from overspending to […]
Understanding Procurement’s Role in Inflation Protection
In times of inflation, businesses face the challenge of rising costs that can eat into their profit margins. One effective way to mitigate this impact is through strategic procurement, especially by focusing on controlling tail spend. Tail spend refers to the smaller, often overlooked purchases that collectively make up a significant portion of a company’s […]
How CFO and CPO Alignment Can Transform Tail Spend Management in 2025
Imagine discovering that tens of millions of dollars are leaking out of your company’s bottom line each year—not through massive deals or headline-making fraud, but through thousands of seemingly insignificant purchases no one is watching. Suddenly, those overlooked invoices and rogue purchases add up, straining budgets and risking compliance. Aligning the roles of CFOs (Chief […]
Best Practices for Implementing A Tail Spend Management Platform
Implementing a tail spend management platform can make it easier for companies to handle those small but many purchases that often get overlooked. These are known as tail spend, and they can add up fast if they’re not managed well. By organizing and automating these expenses, businesses can save money and reduce hassle. One of […]
How to Improve Supplier Relationships and Ensure Better Deals
Maintaining good relationships with suppliers is key to getting the best deals. They are not just providers of goods and services; they are partners in your business success. By focusing on building trust and clear communication, companies can ensure a smooth and beneficial partnership. Strong supplier relationships lead to more than favorable terms and prices. […]
How to Overcome Procurement’s Biggest Pain Point in 2025
Procurement professionals face many challenges in 2025. Among these challenges, managing tail spend stands out as a major pain point. Tail spend includes low-value purchases that don’t get the same attention as larger expenses but can accumulate to a significant cost. Dealing with these small transactions can be time-consuming and complex. Budget constraints add another […]