What is Tail Spend?
Tail spend used to be defined as high-volume, low-value transactions that were not managed by procurement, however, the definition has changed over the years. Today, the term better refers to ad hoc spending and uncategorized supplier purchases that are low in volume, frequency or value. Therefore, most companies don’t prioritize tail spend management.
Poor data visibility into the vast number of transactions and the involvement of manual labor make tail spend management tedious and challenging. But with the shift to automation — driven primarily by next-generation digital technologies — companies are starting to look at the significant cost savings that come with end-to-end visibility. Read more to learn about GEP’s tail management services and solutions.
World's Leading, Unified Source-to-Pay Platform for Direct and Indirect Spend Management
GEP SMART is an AI-powered, cloud-native source-to-pay platform for direct and indirect procurement. GEP SMART offers comprehensive source-to-pay functionality in one user-friendly platform, inclusive of spend analysis, sourcing, contract management, supplier management, procure-to-pay, savings project management and savings tracking, invoicing and other related functionalities.
Next-Gen, End-to-End Supply Chain Management Platform for the Connected Enterprise
GEP NEXXE is a unified and comprehensive supply chain platform that provides end-to-end planning, visibility, execution and collaboration capabilities for today’s complex, global supply chains. Built on a foundation of data, artificial intelligence and cognitive technologies, GEP NEXXE helps enterprises digitally transform their supply chains and turn them into a competitive advantage.
