What is maverick spend and how to reduce it?

Maverick spend is the action of purchasing from suppliers outside pre-established procurement policy. Maverick spend can be defined as off-contract spend or buying from non-preferred suppliers.  Across all types of organizations, there is a wide range...

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Jasmiina Toikka

Head of Content at Sievo

Spend Analysis, Finance, Procurement explained

What are procurement savings: definitions, saving types and calculation examples

The main goal of procurement is to ensure products and services are bought at the right price. Cost savings still is still the #1 key performance indicator for CPOs. This can be measured via hard...

Lari Numminen

Finance

Procurement Loves Finance All Around the World

A year ago we launched a new book describing Procurement’s Love for Finance. Behind this catchy headline there was a key point: procurement should prove its contribution to finance with love and ...

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