New Basware Report Based on Research from The Hackett Group Reveals That Less Than Half of All Companies are Prepared to Combat Maverick Spend
Summary
ESPOO, Finland--( BUSINESS WIRE )--Companies are missing significant opportunities to reduce maverick spend and improve the buyer experience, according to a new report by Basware ( Nasdaq: BAS1V ), the global leader in networked source-to-pay solutions, e-invoicing and innovative financing services.Maverick spending is any purchase that doesn’t follow a compliant procurement process, which can cause businesses to lose 10-20 percent of targeted savings, according to the report.The report reveals that procure-to-pay (P2P) technology platforms are believed to help significantly reduce maverick spending, but that few companies are leveraging these tools today.The Hackett Group also provides dedicated expertise in business strategy, operations, finance, human capital management, strategic sourcing, procurement and information technology, including its award-winning Oracle and SAP practices.The Hackett Group has completed more than 15,000 benchmarking studies with major corporations and government agencies, including 97% of the Dow Jones Industrials, 89% of the Fortune 100, 87% of the DAX 30 and 59% of the FTSE 100.
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