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Tail Spend Opportunity Assessment
Tail Spend Management Consulting
From source-to-pay Source One’s team of experts is here to empower your business. Don’t settle for good enough, develop an approach to spend management that will drive your organization into its next strategic era.
Spend Analysis Services
Procurement can’t drive value out of its spend profile without visibility. Source One leverages a proprietary spend analysis platform to cleanse your data, aggregate suppliers, classify purchases, and develop an actionable roadmap for delivering on cost reduction opportunities.
Sourcing Execution Services
Don’t go to market alone. Source One’s Strategic Sourcing specialists provide the informed, hands-on support you need to maximize value and efficiency throughout your sourcing events and supplier engagements. From RFX design to scorecarding, count on Source One.
Contracting and Negotiations
Building an effective partnership with vendors and suppliers come down to far more than a great price. Source One’s contracting and negotiations team knows what it takes to develop agreements that are designed to provide value in the long-term and adapt as necessary.
Make Tail Spend a Source of Strategic Value with an Opportunity Assessment
Start making your un-managed spend into a source of strategic value.
The definition of “tail spend” varies from organization to organization. However they define tail spend, most organizations are similar in one key respect. That is, they’re not paying nearly enough attention to it. Often, tail spend gets dismissed as low value and leaves organizations struggling with ineffective contracts, lost savings, and tedious tactical processes. We help Procurement teams like yours take tail spend from afterthought to strategic value driver and it all starts with a tail spend opportunity assessment.
Our Approach to Tail Spend Opportunity Assessments
Years of empowering organizations to meet their cost reduction goals has helped us build a world-class process for analyzing our clients’ direct, indirect, and tail spend.
- First, we consult your internal Procurement team to learn more about your historical approach to managing tail spend.
- Next, we dive into spend category-by-category to identify quick win opportunities for process improvement and cost reduction.
- Then, we’ll continue to identify and prioritize more long-term opportunities to drive value from tail spend.
- Last, we’ll support you in developing and sustaining a more strategic approach to tail spend management.
Impact of Strategic Tail Spend Management
- Better Visibility: A more strategic approach to tail spend boosts control and visibility across your full spend profile and makes it easy to identify opportunities for process optimization and cost reduction.
- More Compliance: Tail spend opportunity assessments quickly point out instances of non-compliance and make it possible to address maverick spend – whatever the category.
- Improved Workflows: Better tail spend management ensures your Procurement team isn’t dealing with one-off purchases and tedious supplier interactions. An opportunity assessment provides the means for an optimal approach that leaves Procurement more time to focus on high-value strategic work.
Every initiative starts somewhere. Why not get on the road to evolved Procurement with a tail spend opportunity assessment from the leaders in spend management? Together, we’ll eliminate the obstacles that have kept you from addressing tail spend in the past and provide for continuous improvement. Reach out to learn more.
Contact the Tail Spend Opportunity Assessment Team