Maverick Spend Definition
Maverick spend is defined as any organizational spending that falls outside of the existing procurement process. This can include anything from office supplies to software licenses, and everything in between. In many organizations, maverick spend accounts for a significant percentage of the total annual budget.
One of the challenges with maverick spend is that it can be difficult to track and control. Without a clear understanding of where maverick spend is happening, it can be hard to reign it in. This can lead to wasted money and potential compliance issues.
Organizations need to have a clear understanding of what maverick spend is, and how to manage it effectively. By doing so, they can save money and ensure that all spending aligns with organizational goals.
