Tail Spend Savings
Reveal strategic savings opportunities in your organization’s tail spend (low $ spend).
By managing your non-strategic or low-dollar spend, Versatex allows your procurement professionals to re-focus time and resources on your top multi-million-dollar ROI opportunities. Versatex offers a fully integrated solution, including:
Versatex ensures your vendor base is a perfect fit with your organization’s goals, maximizing ROI while simultaneously delivering best value, highest quality, and stable compliance. We comb through the thousands of vendors in your tail spend with powerful analytics to identify and consolidate spend to the best fits.
Versatex decreases your costs without a decreased quality of service by standardizing your processes, ultimately driving enhanced end-to-end efficiency. We seamlessly integrate with your existing and future ERP and analytics platforms
Versatex helps you identify and source diverse vendors for even your most specialized categories. Our Spend Diversification delivers the convenience of managing the complexities that often arise from working with smaller vendors – so you can focus on more strategic spend.
Versatex provides complete transparency into each step of the procurement to payment (P2P) system by standardizing your spend analytics, inventory control, and documentation. This allows you to work through an aggregator in real time across all your locations.
Versatex streamlines and automates the management of required approvals to ensure all payments are accurate and verified, reducing overpayment and audit risk. By providing complete transparency into each step from procurement to payment, we ensure that the 10s or 100s of thousands of invoices and all payments are supported with the necessary documentation while keeping your vendors paid on-time.