Reaching Procuretopia
Taming Procurement Tail Spend
Failure to address tail spend can result in damage to the bottom line and the organization’s reputation. Is your company ready to take a step towards a best-in-class procurement department?
AIR DATE & TIME
September 19, 2019 6:00 PM, 60min
procuretopia (n.): the ideal, utopian environment that procurement organizations thrive in; a perfect world where 100% of spend data is visible.
Your organization might have clarity on its vendor relationships with its strategic suppliers. These are the suppliers that pick up the phone to answer questions on the status of invoices, the suppliers that comprise seemingly all of your organization’s spend. But what about those small volume, one-off purchases from suppliers that no one on the procurement team even knows the name of? Even though they make up a small percentage of spend, they can amount to a high percentage of purchasing headaches. Gaining insight into and managing this tail spend unlocks savings, increases visibility, reduces maverick spend, and amounts to a more efficient business.
For many organizations, paying attention to this tail spend doesn’t seem worth the hassle. However, there are consequences to ignoring the problem entirely. Failure to address it can result in damage to the bottom line and the organization’s reputation. Is your company ready to take a step towards a best-in-class procurement department?
Join Levvel Research and Procure-to-Pay expert, Basware as we demystify one of procurement’s biggest gray areas.
Additional Details
Advanced preparation: none
Delivery method: Group-Internet Based Cancellation policy: Levvel Research may at its discretion cancel or replace a previously announced program with a program of similar content. We will make every effort to provide sufficient notification of such change. For more information regarding complaint and/or program cancellation policies, please email us at cpe@levvel.io
Refund policy: No fee charge
Levvel Research (formerly PayStream Advisors) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.
Meet the speakers
Major Bottoms Jr.
Senior Research Consultant
Jason Vinclette
Director of Product Management, Basware
Guests will learn about
- Categorizing tail spend
- Managing tail spend as an advantage
- Leveraging automation to gain complete procurement and finance visibility
Who should attend?
- Procurement, AP, and Back-Office Finance Professionals
- CFOs
- CPOs
- Finance Directors
- Controllers
Meet the speakers
Major Bottoms Jr.
Senior Research Consultant
Major Bottoms Jr. is a Senior Research Consultant for Levvel Research based in Charlotte, NC. He plays a key role in the analysis and presentation of data for Levvel’s research reports, webinars, and consulting engagements. Major’s expertise lies in the Procure-to-Pay, Source-to-Settle, and travel and expense management processes and software, as well as technologies and strategies across DevOps, digital payments, design systems, and application development. Prior to joining Levvel, Major held various roles in the mortgage finance field at Bank of America and Wells Fargo. Major graduated with a degree in Finance from the Robert H. Smith School of Business at the University of Maryland.
Jason Vinclette
Director of Product Management, Basware
Jason brings over 15 years experience in global enterprise software product management. He has lead development, product management, and marketing initiatives in procurement and accounts payable in both the private and public sectors. As Director of Product Management, Jason serves as a product leader for source to pay initiatives including eProcurement, eInvoicing, and AP Automation.
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