Tail spend refers to the large number of low value, high volume invoices that businesses accumulate over time. These purchases often go unmanaged, leading to higher costs and a drag on profits. This video discusses strategies to get tail spend under control through proper process and systems. We’ll review how to identify tail spend items, implement spend controls, automate approval workflows, and consolidate suppliers. Taking a proactive approach to tail spend management can improve visibility, cut costs, and boost bottom line performance.
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