Glossary list

Tail Spend

Written by Workwize Team | Aug 12, 2024 6:20:14 PM

It is a term used to describe unmanaged expenditures that an organization makes across product and service categories. 

High-volume, low-value transactions do not fall under the umbrella of procurement terms. 

However, in the current ecosystem, they are defined as ad hoc spending and uncategorized vendor purchases with high volume but lower costs.

A firm's poor visibility into transactions can lead to unstructured tail spending management. 

However, data analytics tools gain better end-to-end insight, leading to visibility and unscrupulous costs.