Basware (Nasdaq: BAS1V), the global leader in networked source-to-pay solutions, e-invoicing and innovative financing services, will host “The Path to Procuretopia” on March 14 at the Procurement Leaders’ Americas Procurement Congress event at The Eden Roc Miami. Basware defines Procuretopia as the ideal, utopian environment that procurement organizations thrive in and a perfect world where 100 percent of spend data is visible. Led by Basware Senior Global Business Advisor, Nancy Jorgensen, the roundtable session will highlight the disconnect between procurement leaders’ and buyers’ perceptions about maverick spend and how to remediate the issue.
Maverick spending is any purchase that doesn’t follow a compliant procurement process. It might consist of buying goods or services outside of a preferred buying channel, supplier, or price when one has been established. Causes of maverick spending can include company purchasing culture, lack of procurement influence, cumbersome processes and technology, unclear or lack of policies, limited training, and more.
“I am so glad to join this group of sourcing and procurement professionals and lead these roundtable discussions,” said Jorgensen. “I’m looking forward to introducing the concept of Procuretopia to my industry colleagues who face a variety of purchasing challenges every day, including battling the often pervasive mindset that Indirect sourcing and spend aren’t meaningful.”
During “The Path to Procuretopia,” attendees will learn the following:
Last year, The Hackett Group conducted a survey to gain insight into the strategic importance of maverick spend reduction, understand the adoption of specific procurement practices, and differentiate how top performing organizations approach this topic. To access this report and learn more about procuretopia, visit the procuretopia site.
Basware offers the largest open business network in the world and is the global leader in providing networked purchase-to-pay solutions, e-invoicing and innovative financing services. Our technology empowers organizations with 100% spend visibility by enabling the capture of all financial data across procurement, finance, accounts payable and accounts receivable functions. Basware is a global company doing business in more than 100 countries and is traded on the Helsinki exchange (BAS1V: HE).
More information about Basware is available at www.basware.com.
About Procurement Leaders
Founded in 2004, Procurement Leaders™ is the world’s most valued professional procurement network. A unique and vital destination that connects, inspires and accelerates our members to become more successful. Powered by a community of over 750 leading global corporations and 33,000 senior procurement, sourcing and supply chain executives, we accelerate our member’s journey to superior performance, providing access to the in-depth insight, practical tools and expert guidance they need to transform procurement into a critical business driver. For more information about Procurement Leaders, visit www.procurementleaders.com
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