What does Versatex do?

Have you heard of tail spend?

We can break it down for you.

Approximately 80% of an organization’s transactions make up 20% of its spend. That’s the “tail” end of its “spend.”

Pretty simple, right?

That’s a lot of transactions, ripe with opportunities to find savings – and we’re really good at finding savings.

So, that’s what we do: manage the tail spend for large organizations to find savings.

As veterans in the supply-chain and procure-to-pay industry, among the other benefits we provide, we take the flashlight to the tail, dig up those savings and put them back in organizations’ hands so they can do – well, anything they want to do with them.

Take, for example, if an organization has $200 million in its tail spend and there’s at least a 10% savings to be found, that’s an extra $20 million. That kind of savings is always critical, but even more so during the COVID-19 pandemic.

Understanding the concept of tail spend is easy. Wrapping one’s arms around the problem and coming up with a solution can be a challenge for organizations.

That’s where we come in.

Our solution is tailor-fit for each client, but we focus on five key areas.

1.     Tail spend and time savings: Versatex allows procurement professionals to refocus time and resources on their top ROI opportunities.

2.     Risk management: We make sure that regulatory requirements are met while keeping suppliers paid on time.

3.     Spend visibility: We give clients insight into the dollars saved by interpreting their data in a way that no one else in the marketplace can.

4.     Process efficiency: We decrease the time it takes to complete purchases while increasing the consistency and predictability of those purchases.

5.     Supplier management: We ensure suppliers get the job done right, get it done quickly and that they are paid on time, saving teams time, money and headaches.

The bottom line: Versatex helps organizations save time and money.