How to control your Tail Spend
out of 9
Post on 13-Aug-2015
- 1. blurgroup.com 2015 blur Group PLC How to not fall prey to Tail Spend
- 2. blurgroup.com 2015 blur Group PLC Does this sound like your business? Do you have ongoing contracts that are systematically renewed without review? Are your employees experts at finding the correct suppliers in the required field? Do your suppliers fall below the radar of your business main procurement operations? Does your company have more suppliers than employees? Do two thirds or more of your suppliers account for just 5% of spend? Are less than 50% of your transactions with preferred suppliers? Do your employees have time to research a wide network of service providers?
- 3. blurgroup.com 2015 blur Group PLC Thousands of small transactions that individually make up a tiny percentage of your expenditure, collectively adding up to a huge amount. What is Tail Spend? Tail Spend is typically from a few thousand $s up to a quarter of a million $s - Accenture. Tail Spend Your suppliers
- 4. blurgroup.com 2015 blur Group PLC How to recognize Tail Spend The waste in Tail Spend ranges from 15-20% of overall spending, which is a good place to start when looking for indicators to show that you have a problem.
- 5. blurgroup.com 2015 blur Group PLC Accenture have studied tail spend in some depth and estimates that savings in the region of 15% can be made through proper tail spend management. Why should you manage Tail Spend? Tail Spend drives innovation, strategy and secures the future of your business. Not managing Tail Spend causes expenditure wastage, not something you need in the current economic climate.
- 6. blurgroup.com 2015 blur Group PLC How can you manage Tail Spend? Understand it and which parts of your strategy Tail Spend is supporting. Create Tail Spend teams to analyse direct/indirect, smaller/bigger spend. Work with either auditors or organisations that specialise in thought leadership. Think about the platforms out there to help you manage Tail Spend more efficiently.
- 7. blurgroup.com 2015 blur Group PLC Turn your tail spend into smart saving. Work with only 1 supplier that can do it all for you Buy at blur.
- 8. blurgroup.com 2015 blur Group PLC blur Group A leader in Tail Spend Management, our Marketplace is designed to help you manage your spend and volume all online. We already have the experts. More than 56,000 of them, globally Cost Effective. Results delivering. We work with your business to manage your project the entire way. WATCH: blur CEO and founder Philip Letts discusses Tail Spend here
- 9. blurgroup.com 2015 blur Group PLC www.blurgroup.com You buy everything else online. Why not business services?
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