The white paper discusses the importance of managing tail spend as part of cost control strategy. It highlights the challenges faced by organizations in dealing with a vast number of transactions and an anonymous supply base. The COVID-19 pandemic has pushed companies to accept the need for substantial changes to manage through disruption. Automation and optimization strategies are being invested in to accelerate speed to market and improve user experience. Tail spend is a key focus area for automation, with mature organizations redefining and clarifying the term to refer to "invisible" suppliers and ad hoc purchases that are low-volume, low-frequency, or low-value. The paper provides smart and effective strategies to help organizations tame tail spend and get ahead of it.
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