Tail-Spend Sourcing Service
MultiQuote is a dynamic real-time pricing marketplace with a demonstrable track record for delivering cash savings across all expenditure. This solution has developed an enviable reputation with a unique categorised database of over 10,000 suppliers allowing procurement professionals to challenge spending, by competition, for all goods and services.
What causes the Tail-Spend Problem?
Often Tail Spend represents a spend equal to or greater than your largest supplier. Effectively managing Tail Spend is a significant challenge, as the expenditure covers a large volume of suppliers and products. This is exacerbated where the procurement function is delegated across the organisation and unsuitable systems and processes are in place.
Tail-Spend issues include:
- Maverick or devolved spending/purchasing
- Time & resources required to outweigh potential savings
- Many suppliers
- Unsuitable systems and processes
- Compliance and transparency
Tail spend is organisational spend that is not actively managed, typically representing 20% of overall expenditure on goods and services.
- Centralised purchasing
- The efficient and inexpensive process to challenge expenditure
- Consolidation of suppliers
- Dedicated Tail-Spend solution, with supplier marketplace
- Transparent procurement i.e. publishing to Contracts Finder
MultiQuote is a dynamic real-time pricing marketplace with a demonstrable track record for delivering cash savings across all expenditure and has developed an enviable reputation.
Our response to key objections
Guy’s & St Thomas’ NHS Foundation Trust
David Lawson, Director of Procurement at Guy’s St Thomas’ NHS Foundation Trust shares his positive experience about how the Source MultiQuote Service solution supports their drive to use more local suppliers.
“Guy’s & St Thomas’ has selected MultiQuote to provide a systematic method to ensure below tender spend is subject to competition and so increase the opportunity for savings. The system also supports our drive to use more local suppliers by Increasing the visibility of opportunities and providing an easy access point for suppliers to provide quotations.”
Camden and Islington NHS Foundation Trust
Jeff Nielsen, Head of Procurement at Camden and Islington NHS Foundation Trust says that ELCOM’s exemplary customer support and attention to customer recommendations is the key to success.