Despite compliance processes, maverick spending happens more often than not. Many companies lose 10-20% of targeted savings due to maverick spend, according to The Hackett Group study in conjunction with Basware.
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(n.): the ideal, utopian environment that procurement organizations thrive in; a perfect world where 100% of spend data is visible.
More often than not, employees are purchasing products and services outside of the negotiated contract - leading to maverick spend.
In Q2 2018, The Hackett Group conducted a survey to gain insight into the strategic importance of maverick spend reduction, understand the adoption of specific procurement practices, and differentiate how top performing organizations approach this topic.
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