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Five Steps To Eliminate Maverick Spending (Verian, ISM-VT)
Wednesday, July 23, 2014, 02:00pm - 03:00pm
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Don’t Reduce Maverick Spending. Eliminate it.

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Why do purchasing policies exist? Ask any procurement or finance executive and you’ll get an instant answer. But is this question as clear to their peers within the company? Companies wanting to eliminate the maverick spending that goes against internal policy might benefit from asking themselves five simple questions.

In order to change behavior, you have to deliver an incentive. These questions shed light on how companies can make simple changes that can eliminate maverick spending. Changes such as:

  • Increase visibility to current inventory
  • Remove approval bottlenecks
  • Create a user friendly purchasing process