Tail Spend Management Solutions: Preventing Scams for Businesses by Increasing Spend Visibility | SpendEdge

SpendEdge, a well-known procurement intelligence solution provider, has
announced the completion of their latest article on how companies can
leverage the benefits
of tail spend management. The article highlights the
factors affecting the cost of goods sold (COGS) and SG&A. It also gives
an overview of how gaining spend visibility and identifying cost saving
opportunities can contribute in effective spend management and scam
prevention.

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https://www.businesswire.com/news/home/20190131005658/en/

Tail spend management best practices (Graphic: Business Wire)

The increasing competitive pressure has forced companies to find ways to
reduce costs and achieve better savings. This requires companies to
manage their spend activities effectively and optimize their supply
chain and procurement functions. Businesses also need to analyze various
services of their business such as printing and packaging, marketing
services and office products as they can impact the company's financial
performance. Such needs and challenges of businesses have compelled
businesses to devise tail
spend management framework and mitigate business risks.

Are your spend management activities impacting the financial
performance of your business. Talk
to our experts and know how our tail spend management
solutions can help you unlock more value from the tail spend and reduce
operational costs for your organization.

Tail spend management best practices:

Review supplier base

Companies are required to have a detailed review of their suppliers at
regular intervals to gain a better understanding of the procurement and
supply chain processes. It can help companies save the unnecessary spend
by removing any non-compliant supplier from the supply chain. This spend
can further be transferred to suppliers who are compliant and have
proved their efficiency.

Consolidation of suppliers

Keeping a track on the number of suppliers is essential for companies to
maintain their ongoing efficiency. It helps companies with the timely
optimization of their supply chain and provide them with process and
cost benefits.

Tracking the performance of suppliers can help companies increase the
efficiency of their business achieve better cost savings. To know how
our portfolio of tail spend management solutions can help you achieve
this, Request
a free proposal.

Streamline processes

After gaining a consolidated list of several suppliers, companies are
required to align and streamline other processes to the finance
department. Also, companies need to enhance their demand management
process by precisely addressing the problems in their P2P process and
supply chain.

Want to employ tail spend management solutions that can rapidly
deliver sustainable positive cash flow and help you achieve faster
savings for your organization? Request
a free demo now!

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View source version on businesswire.com: https://www.businesswire.com/news/home/20190131005658/en/