Maverick Spend

Spending that deviates from the company’s set procurement policy is known as “maverick spend.” Any time your organization buys goods or services outside of the terms of a contract or from a supplier that isn’t on your list of preferred vendors, you lose access to the discounts you’ve worked so hard to secure. Worse still, it can damage relationships with suppliers, alter the terms of future contracts, and pave the way for dishonest dealings.

Although seemingly insignificant at the time, maverick spend can quickly become a significant drain on a company’s resources. While it’s usually simple to track down instances of wasteful “maverick spending,” this isn’t always the case.