As a procurement manager, it’s easy to be focused on the big-picture finances of your business. But the small things can have a bit impact. For instance, do you know how much money you could be saving on your tail spend?
Tail spend is a general term that covers all aspects of your company’s expenditure that falls outside of existing, pre-negotiated deals with your regular suppliers.
In the case of business travel, this could include things like a one-off outlay on a hotel or a flight which may at first seem relatively inconsequential in terms of cost, but if repeated often can quickly mount up and become a significant drain on your company’s financial resources.
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