Hey guys, I’ve noticed that some departments in our company are spending outside the approved budgets, and I’m worried it’s becoming a big problem. I’ve been hearing the term “maverick spend” a lot, but I’m not entirely sure what it means or how to deal with it. We definitely need to get it under control, but I’m not sure where to start. Any advice on how to handle this issue?
top of page
bottom of page
It’s a common issue that’s tough to tackle, but I found a post that goes into detail about the causes, risks, and strategies for mitigating maverick spending. One thing that stood out was how important it is to make sure the whole team is aligned with procurement policies. The article on more info explains it well and offers some actionable tips on how to reduce maverick spending. It really helped me think through how to implement better controls at work.
Maverick spend is definitely a tricky one. It’s when employees or departments make purchases outside of the established procurement process. It can lead to overspending and poor supplier relationships, but I’m not sure what the best way is to prevent it either.