Procurement Services
Tail Spend
What is Tail Spend?
Tail Spend, also referred to as indirect procurement, indirect spend, long tail and others, is the ad hoc and/or uncategorized supplier spending required to carry on the day-to-day operations of a business.
What’s the Struggle with Tail Spend?
Although Tail Spend is generally referred to as a non-strategic spend, businesses find that it generally accounts for a not insignificant 20% of total spend and 80% of all suppliers, many of which are for one offs.
How do you effectively manage the quantity of suppliers and the number of orders for items and services that are low in volume, value, risk and frequency?
Our Solution:
Corlido Group has been a pioneer in the field of Tail Spend management including Indirect Procurement and MRO Supply. Operating as an extension of your procurement team we help organizations optimize the procurement process, reduce time spent and reduce costs.
Tail Spend Management plays a critical role in reducing organizational costs and improving operational efficiencies. You can focus on your core activities and strategic spend, while Corlido manages your indirect procurement, giving you full visibility, insights and ultimately control over your Tail Spend.
Our tailor-made management reporting tools will give you the insights you need when you need them to make the right decisions for your organization. Whether your organization needs an end-to-end solution or just needs help processing invoices from un-approved suppliers, The Corlido Group has a solution.
Benefits of Outsourcing Procurement
- Direct savings of between 3% and 12% of the influenceable spend
- Indirect savings up to 21%
- Free up your procurement team to focus on strategic spending
- Free up your back-office team from setting up new suppliers
- Single creditor model, supplier reduction up to 99%
- Invoice standardization
- Risk reduction via standardized terms and conditions
- Procurement compliance and reduction/elimination of maverick buying
- Fully transparent and insightful reporting
- COPS E-Procurement tool for a more efficient process
- Rely on Corlido’s pioneering expertise and long-standing relationships
Our Services
Source-to-Pay
is the most comprehensive Tail Spend Management service. From RFQ to material delivery to invoice payment to reporting, we handle it all according to a process tailor made for your organization. You will have one vendor and one invoice, additionally Corlido will provide 100% of the information through customized reporting.
Procure-to-Pay
is our second most requested Tail Spend Management Service behind Source-to-Pay. With Procure-to-Pay we use your specified supplier, but we place the orders and take care of things from order to invoice. Again, we will act as your single creditor solution.
Invoice Processing (Pay Only)
Pay Only or Invoice Handling is our least comprehensive service, as the order has already been placed and the goods have received, but the invoice cannot be paid. Invoice Handling is often seen as non-compliant behavior but occurs in every organization. In this case, Corlido would process the invoice and payment for you.
Warehousing
Corlido offers comprehensive warehousing services, ensuring secure storage and efficient management of your inventory.
Integrations & AI
Corlido Group is experienced in System Integrations such as SAP Ariba, Oracle, Microsoft and more.
COPS
COPS is your tailor-made E-Procurement tool that enables you to digitalise non-contract purchases.