Tail Spend Management

Tail Spend

Big Savings in Small Spend — Tales from the Tail

In the world of strategic sourcing, realizing 5 to 8% savings is considered to be impressive. After all, these are the high-spend categories and are supposedly already well-managed and frequently revisited for improvement opportunities. In contrast, when our clients work … Read More

Procurement Technology

Simfoni is recognized for the second time at World Procurement Awards in “Best New Procurement Technology” category.

Procurement Leaders have announced the finalists for the World Procurement Awards 2019 and Simfoni has been listed for the second time as the best new procurement technology in the “Procurement Technology” Category. … Read More

What Exactly Is in the Tail Spend?

What Exactly Is in the Tail Spend?

At a headline level, I think most procurement folks are now familiar with the concept of tail spend: the low-value spend items that are non-core but still essential to the smooth operation of an organization. … Read More

Tail Spend Management

Tail Spend Management in the Trenches: Lessons Learned and Questions Answered

Spend Matters recently hosted a webcast exploring how Owens & Minor revamped its tail spend management strategy using Simfoni, a procurement solutions provider with specialized capabilities in this area. … Read More

Tail Spend Management

Tail Spend Management Webinar

Hear from Simfoni client Jean-Pierre Pinsonneault, Vice President Global Indirect Procurement at Owens & Minor about how the Fortune 500 healthcare distributor has been successfully tackling tail spend. … Read More

Tail Spend Management

Tail Spend Management for the financial progress

Tail spend management is necessary for any firm to improve its financial performance. It is the spend made that is not included in all the categories of spend, rather few that impacts its performance in respect of the finances. Suppliers are many but to each given spend category, very small share is made. … Read More

Tactical Buying

What is the Difference Between Spot Buying and Tactical Buying Within Tail Spend Management?

Continuing on in this series about how organizations can better manage tail spend, we are now turning our attention to spot buying and tactical buying. Is there a difference between these two terms, or are they one and the same … Read More

Tail Spend Management

Better Tail Spend Management is a Clear Priority Among Procurement Professionals

In a previous post, we looked at a study undertaken by The Hackett Group, titled: The CPO Agenda: Reduce Purchase Costs, Improve Agility, and Become a Trusted Advisor, by Patrick Connaughton and Christopher Sawchuk. This time around, we are revisiting … Read More

Tail Spend Management Tool

Simfoni’s PocketPro App: Save Your Company Money with An Effective Tail Spend Management Tool

Maximize your profits, increase compliance, gain control of your business information, & ultimately empower your organization with Simfoni. … Read More

Tail Spend Automation

Why it is Important to Properly Manage Tail Spend – Studies and Expert Opinion, Part 5 Tail Spend Management Skills – Internal vs. External

We are going to turn our attention to manage tail spend in such a way that “hidden” value is unlocked and costs are reduced using Tail Spend Automation. In the first four articles in this series, we looked at the … Read More