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Maverick Spend: Strategies for Controlling Unauthorized Consulting Expenditures

MR (VIII N24) - Capturing and managing by-pass spending ("maverick spend") on consulting services is a significant challenge for most global sourcing and procurement organizations. But controlling spend in other procurement categories is generally met with much less resistance. Complexity of this service area combines with a dynamic participant marketplace, and the political influence of decision stakeholders, to set consulting apart from other procurement areas. Understanding the consulting category and its many facets and history is crucial to building an effective program to minimize maverick spend on services. This Research Note presents our perspectives and observations on best practices, and our findings from a recent Monadnock Research study on the practices of twelve organizations representing an estimated $7.6 billion in spending on consulting services annually. (5 Charts, 4,425 words) Link to purchase White Paper for non-subscribers: http://www.monadnockresearch.net/products/item37.cfm . . . (to read the remainder of this article, please log in below.)
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