Claritum’s cloud based spend management platform streamlines sourcing, procurement and invoicing for frequently ordered products and services, often referred to as ‘tail spend’. Every year, companies make millions of purchases that are too small to be handled by procurement or too infrequent to be included in a single vendor catalog.
Tail spend categories are often characterized by frequent, low value orders, often placed by large numbers of inexperienced employees under time deadlines. Employees often find enterprise ERP/Procurement too cumbersome and slow to manage tail spend purchasing. Products and services such as marketing print, packaging, uniforms and apparel, gifts and premiums, facilities, temporary labor and many others represent over $2trillion of expenditure globally and yet 80% of businesses source these categories manually (online search, phone and email) resulting in errors, inefficiencies and lost savings opportunities of between 15% and 30%. It is these manual processes that prevent most organizations from gaining the visibility and control they need to effectively manage their expenditure.
For a $1bn revenue company, bringing tail spend under management is a ±$30m profit opportunity. Claritum enables employees, procurement experts and suppliers to collaborate efficiently. With Claritum users can specify accurately, request and evaluate bids from highly profiled suppliers, streamline purchasing, get approvals, receipt goods and process invoices with minimal manual intervention. Claritum provides centralized control over local buying resulting in real time visibility and compliance of every transaction, locally, nationally and even globally. Claritum integrates easily with buy-side ERP and financial platforms and supply side estimating, production, warehouse and fulfillment systems to automate the entire source to settle process. Claritum is trusted by global enterprises, regional businesses and procurement service providers to deliver significant, measurable and sustainable cost savings and process efficiencies.
Claritum’s CEO, James Samuels, has successfully completed the prestigious Goldman Sachs 10,000 Small Businesses programme and will graduate into the Alumni. This programme is exclusively aimed at fast growth businesses in UK and US and provides high-quality, practical...read more
This short video explains how you can control and monitor Marketing expenditure from one platform using Cloud based Spend management.read more
The Global Chief Procurement Officer Survey published in 2017 by Deloitte produced some very interesting stats. This infographic details a summary of some of those stats along with a Claritum viewpoint...read more
Considerations when choosing a print procurement system
Claritum’s Procurement Platform
is trusted by over 150,000 users in 35 countries to deliver significant savings and efficiencies