{"id":29092,"date":"2017-08-18T10:00:38","date_gmt":"2017-08-18T15:00:38","guid":{"rendered":"https:\/\/simfoni.com\/?p=29092"},"modified":"2025-02-10T08:47:18","modified_gmt":"2025-02-10T13:47:18","slug":"what-does-well-managed-tail-spend-look-like","status":"publish","type":"post","link":"https:\/\/simfoni.com\/spend-analysis\/what-does-well-managed-tail-spend-look-like\/","title":{"rendered":"What Does Well-Managed Tail Spend Look Like?"},"content":{"rendered":"<p><a href=\"\/simfoni-blog\/does-tail-spend-really-matter\/\">In our previous post<\/a>, we discussed <a href=\"https:\/\/simfoni.com\/tail-spend-management-guide\/\" target=\"_blank\" rel=\"noopener\">why <span class=\"\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">tail spend<\/span> is important<\/a>, as well as the negative impact poorly managed <a href=\"https:\/\/simfoni.com\/tail-spend-management-guide\/\" data-internallinksmanager029f6b8e52c=\"11\" title=\"Tail Spend\" target=\"_blank\" rel=\"noopener\"><span class=\"\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">tail spend<\/span><\/a> can have on an organisation.<\/p>\n<p>Obviously, a well-controlled <a href=\"https:\/\/simfoni.com\/procurement\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Procurement\" target=\"_blank\" rel=\"noopener\">procurement<\/a> &ldquo;tail&rdquo; is important and will have a beneficial effect on the business, but acknowledging this also raises the question, &ldquo;What does well-managed <span class=\"\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">tail spend<\/span> look like?&rdquo;<\/p>\n<p>Two of the key elements well-managed <span class=\"\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">tail spend<\/span> are:<\/p>\n<p>1. &nbsp;<strong>A balanced approach<\/strong>. When it comes to managing <span class=\"\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">tail spend<\/span>, it is important to see the big picture and implement measures and processes that find the balance between increasing consolidation, cost-control, and visibility, without sacrificing speed and responsiveness to the point where there is opportunity loss and stakeholders are frustrated to the point of bypassing the system.<\/p>\n<p>2. &nbsp;<strong>Utilisation of appropriate tools to maximise efficiency<\/strong>. Advanced spot-buying software is a key resource here because it helps <a href=\"\/cost-control\/tail-spend-low-value-spend-management\/\">find the balance between control and efficiency<\/a>. Users outside of the procurement department can source their own requirements from a range of pre-approved suppliers (often including suppliers that that they were not previously aware of), place orders, receive the good or services, and get on with their work.<\/p>\n<p>Combining a balanced approach with the right tools means that procurement professionals and management can define rules and policies that are embedded into the system, and can monitor <span class=\"\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">tail spend<\/span> purchasing activities via the increased visibility, without needing to tie up expensive procurement resources on non-strategic spending.<\/p>\n<p>On the other side of the table, users get to &ldquo;own&rdquo; a significant part of the process, encouraging participation and compliance without causing unnecessary delays and loss of opportunity.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In our previous post, we discussed why <span class=\"\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\"><span class=\"\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">tail spend<\/span><\/span> is important, as well as the negative impact poorly managed <span class=\"\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\"><span class=\"\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">tail spend<\/span><\/span> can have on an organisation. Obviously, a well-controlled procurement &ldquo;tail&rdquo; is important and will have a beneficial effect on&hellip;<\/p>\n","protected":false},"author":1,"featured_media":29093,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"give_campaign_id":0,"footnotes":""},"categories":[1,442],"tags":[472,471,469,474,470,473,475,463,457],"class_list":["post-29092","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-spend-analysis","category-tail-spend","tag-contract-analytics","tag-contract-management","tag-procurement-analytics","tag-procurement-analytics-software","tag-procurement-cost-reduction","tag-procurement-savings","tag-procurement-software","tag-procurement-technology","tag-tail-spend"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.2 (Yoast SEO v27.2) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>What Does Well-Managed Tail Spend Look Like? 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