Reshaping the future of tail spend
Given the ongoing economic challenges and the emphasis on cost reduction, the most rapid and fruitful opportunities for savings can often be found in the realm of indirect and MRO spending, an area that has historically seen less scrutiny compared to heavily negotiated critical material purchases.
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Typically, tail spend involves a vast number of transactions, many product categories, and a huge, largely anonymous, supplier base. Many suppliers will only be frequented once or twice per year and might become inactive afterwards, but procurement has no option to suggest better alternatives since there is no formal requisition process in place. With Q-Card we can provide upfront visibility and control, streamline and automate the process, rationalize the number of suppliers and facilitate spend compliance.
To maximize adoption and use case coverage, we leverage widely accepted virtual payment card schemes like Mastercard® and Visa®, as well as wire transfers via Banking-as-a-Service. Simplify your procurement landscape today and enjoy the benefits of a more efficient solution for tail spend management.
“As with many corporates, we see a large variety of small indirect and direct purchases in different parts of the organisation, leading to inefficient processes and various payment methods. We are happy to kick-off this project together with Q-Card and modernise our tail procurement with such an intuitive and flexible solution, that will be fully integrated with out finance system."
Job Verkerke
Chief Procurement Officer
Instant control over your finances
Our approach involves a lean and agile business process that streamlines the integration and monitoring of targeted tail spend expense categories, all while adhering to your company's accounting policies. By incorporating flexible coding and pre-approval rules, companies can expand their spend under management and empower budget holders. This eliminates the need for cumbersome after-the-fact processing of expenses, and manual ERP vendor master and purchase order creation, and avoids lenghty purchase requisitions. Moreover, it provides effective control through a globally compliant and integrated payment platform.
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Do you also have too many suppliers?
Bring your tail spend under management
Simplify your procurement landscape today and experience the benefits of a leaner, more efficient solution for tail spend management. Contact us now to run a business case on your spend categories and learn how Q-Card can transform your day-to-day operations.
