They say that numbers add up. It couldn't be more true about tail spend, which is the non-strategic spend that most companies don't care for. The problem becomes far serious if they may not have true visibility into tail spend or if they misclassify the tail spend. This issue typically leads to companies losing millions of dollars in potential cost savings and growth opportunities.
In today's episode, we have our guest Sarah Scudder from Real Sourcing Network and Madison Mobley from Fairmarkit. They discuss different categories of spend that companies typically consider as tail spend. They also discuss how companies can capitalize on growth opportunities by better managing their tail spend. Finally, they share several stories where they've saved millions of dollars through better insight about tail spend.
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