{"id":26986,"date":"2016-03-14T10:00:22","date_gmt":"2016-03-14T15:00:22","guid":{"rendered":"https:\/\/simfoni.com\/?p=26986"},"modified":"2025-02-10T08:48:08","modified_gmt":"2025-02-10T13:48:08","slug":"why-it-is-important-to-properly-manage-tail-spend-2","status":"publish","type":"post","link":"https:\/\/simfoni.com\/tail-spend-management\/why-it-is-important-to-properly-manage-tail-spend-2\/","title":{"rendered":"Why it is Important to Properly Manage Tail Spend \u2013 Studies and Expert Opinion, Part 2: Identifying and Segmenting Tail Spend for Better Management"},"content":{"rendered":"

In the first article in this series<\/a><\/span>, we looked at a report from The Hackett Group<\/a><\/span><\/p>\n

This time around, we are having a look at a white paper from Accenture, titled Getting a Grip on Tail Spend<\/span><\/a><\/span>, by Ralf Mägerle, Kyle Rosenthal and Christian Meyer.<\/p>\n

This is a fairly detailed study, and we can’t discuss all aspects of it here. However, one very interesting part of the report is a section that contains some clues to help identify if you have a problem with unregulated spending and need to be making plans to better manage tail spend<\/span><\/a><\/strong>. The clues are:<\/p>\n

•  <\/strong> You have more suppliers than employees<\/p>\n

•  <\/strong> Two-thirds or more of your suppliers supply only 5% of your business’s spend<\/p>\n

•  <\/strong> Less than 70% of orders are negotiated by your procurement<\/a> department<\/p>\n

•  <\/strong> Your supplier list grows by more than 10% per quarter<\/p>\n

•  <\/strong> Less than 50% of transactions are with preferred suppliers<\/p>\n

•  <\/strong> Less than 50% of your company’s purchases are via automated processes like electronic catalogues<\/p>\n

If two or more of the above statements describe your current purchasing situation, then it is time to take action and work out a plan to better manage tail spend<\/span>.<\/p>\n

Read More:-  What is Procurement<\/a> and How To Optimize Processes, Performance, and Technology?<\/strong><\/p>\n

The report also contains an interesting concept that is not often discussed: segmenting the tail spend<\/span><\/strong><\/a>. Once the bottom 20% of purchases have been identified and classified as tail spend<\/span>, these purchases can be further categorized and investigated. It may even be necessary to manage tail spend<\/span> slightly differently, depending on the attributes of each tail spend<\/span> segment and the individual business situation.<\/p>\n

The tail spend<\/span> segmentation categories suggested in the report are:<\/strong><\/p>\n

•  <\/strong> Hidden Tail<\/p>\n

•  <\/strong> Head of the Tail<\/p>\n

•  <\/strong> Middle of the Tail<\/p>\n

•  <\/strong> Tail of the Tail<\/p>\n

Do you segment the tail spend<\/span> in your organization? If so, how?<\/p>\n

If you are looking for a simple, no-fuss way to better manage tail spend<\/span> in your organization<\/strong>, the PocketBuyer<\/span>™ app from Simfoni is the ideal starting point.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

In the first article in this series, we looked at a report from The Hackett Group This time around, we are having a look at a white paper from Accenture, titled Getting a Grip on Tail Spend<\/span><\/span>, by Ralf Mägerle,…<\/p>\n","protected":false},"author":1,"featured_media":26987,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"give_campaign_id":0,"footnotes":""},"categories":[1,441],"tags":[457,458,461,459,460],"class_list":["post-26986","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-spend-analysis","category-tail-spend-management","tag-tail-spend","tag-tail-spend-management","tag-tail-spend-software","tag-tail-spend-solutions","tag-tail-spend-technology"],"yoast_head":"\nWhy it is Important to Manage Tail Spend: Tail Spend Analysis<\/title>\n<meta name=\"description\" content=\"Tail Spend Analysis - Learn some clues to help identify problems with unregulated spending and need 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The system helps organizations manage indirect spend, improve supplier engagement, and strengthen procurement governance through data-driven decision making. 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