Tail Spend Management

Hubwoo_tailspend

 

#1green-letters

The key to getting a grip on your tail spend is supplier enablement

Not all suppliers are enabled – as a matter of fact, only the top 20%, i.e. “strategic” suppliers, are likely to be enabled. This could be due to a couple of things. Maybe supplier fees are curbing suppliers’ interest or ability in being onboarded to a network, or maybe this is due to a lack of support from the solution provider in getting them onboarded and automating the process. Supplier enablement and spend under management are directly related.

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On Demand Webinar:

Powering Elevated Savings for Core and Tail Spend

 

#2green-letters

Services are being purchased off-contract

The Procurement of services comes with unique challenges. It is not always possible to know the quantity or type of work required at the time a services requisition is created, resulting in difficulty ordering services on contract

At the Procurement Leaders Americas Congress in March, Kellogg’s global CPO, Walter Charles III in particular, covered some very thought provoking topics. His point on the Pareto principle being an antiquated approach couldn’t have been more accurate.

#3green-lettersForgetting about the second “P” in P2P

Outdated payment processes significantly impact cost and efficiency savings, especially where tail spend is concerned. There is a tendency to still use manual checks and expense reports to process lower volume purchase payments, costing valuable resource time which could and should be applied in more strategic areas.

Hubwoo does not charge suppliers a tax (% of spend) or toll (fixed annual fee) to transact with its customers. We believe in productive e-commerce between trading partners, with equal value to buyers and suppliers alike. In addition to our OPEN business network of over 1M businesses worldwide, which is 100% system agnostic, we provide a suite of source-to-pay cloud solutions that are native to mobile technology