CREATING A POSITIVE
SPEND CULTURE
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.
LEARN WHY A POSITIVE SPEND CULTURE IS CRITICAL TO REDUCING MAVERICK SPEND.
The most common type of buyer non-compliance, 74% of respondents are buying from unapproved suppliers.
Cultural issues are the main cause of maverick spend for Experience & Compliance Leaders, particularly spend culture, 78% of E&C leaders believe their purchases are too small to have an impact.
Only 13% of peer respondents have visibility into items that may be in stock/inventory using an online system or via email.
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procuretopia
(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.
DOWNLOAD THE FULL REPORT TO LEARN HOW COMPANIES ARE APPROACHING MAVERICK SPEND AND PROCURETOPIA™.
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