March 28, 2019 2:00PM
How to Control Maverick Spending Through a Proactive Spend Culture
When it comes to purchasing, every procurement team will tell you that one of the greatest challenges of their job is ensuring compliance across their organization when it comes to purchasing rules, spend policies, and budgets. Without the proper controls in place, organizations can lose hundreds of thousands of dollars a year in maverick spend and high processing costs. High levels of rogue spend can be a sign of an unhealthy Spend Culture. It is often caused by a lack of internal controls and approval processes, non-compliant employees, and if organizations aren't using the right systems and technological tools. Even with the proper eProcurement tool, the system is only as strong as its utilization, and some companies fear they won't gain high enough adoption of a software to truly centralize and control spend activity. Join Levvel Research and Spend Culture experts, Procurify, as we explore how to use a mix of change management strategies and technology to reduce maverick spend. This webinar will offer insights into the ways North American organizations are currently managing their spend, and will provide key best practices for implementing better controls within your own organization. It will also offer key best practices for ensuring high user adoption of an eProcurement tool, and ultimately, higher ROI from the technology.