MAVERICK SPEND. A term that is as synonymous with irresponsible procurement practices as it is with managing your last-minute spend like a pro. Whatever your take on the maverick spend, it shares the conflict over how much of a good idea it is with another Maverick:
The term ‘maverick spend’ implies almost exactly what Tom Cruise as Maverick embodies in Top Gun:
High potential, coupled with an ‘up-yours’ attitude, that ultimately ends in a sticky situation. The issues are resolved, in Top Gun, by bringing some discipline to the Maverick’s methods, and creating this:
Out of this:
Maverick Spend: purchases made without the involvement of procurement, and typically without complying with contracts or existing processes.
Managing your spend, your engagement with suppliers, and your project costs effectively, and avoiding the urge to blow your budget on the nearest good-looking option (not Kelly McGillis, in this case), gives you a much cleaner and rational approach to your project- and business-management. It also makes your processes more likely to be compliant on a global scale.
What are the real implications of an uncontrolled ‘Maverick’ Spend?
Higher rates for goods and services
Lower economic value in return
Increased risk of non-compliance in any business sector.
Getting your very own Tom Cruise to toe the line in your business will help you to manage these issues, wherever you’re operating.
We spend a great deal of time discussing the implications of non-compliance in global business, in terms of employment regulations, tax rates and structures, and business set-up ideals. The maverick spend makes it tough to regulate your business structures and comply with employment laws since it operates on a last-minute-panic basis.
Ardent Partners’ Contingent Workforce Weekly Podcast shares a great deal on procurement in the gig economy, and gives this advice to businesses using contingent workers:
Words by Alison Krumm