Spend Category Management & its Benefits in Procurement

Most organisations will have a set or defined procurement process for buying goods, products, or services. Organisations expect that their employees are exercising caution and thorough due diligence when spending their company’s money. However, this is easier said than done. From our experience of working with several organisations, it is evident that most organisations will have some element of spending that hasn’t been approved by either their procurement team or sanctioned by a relevant budget holder. Any such spend is defined as maverick spend and can expose organisations to various risks such as financial and most important reputational damage.

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