Managing Your Tail Spend on Amazon Prime Day (Good Luck)

According to a recent study, about 47% of organizations' total spend is unmanaged.

Zycus surveyed 725 procurement leaders and found that even though just over half of them considered their total spend under management, only 19% considered spend management to be a "key focus area" over the next year, according to this post.

Tellingly, the survey asked participants "to articulate expected changes in their function over the next five years, and 58% reported they are largely focused on technology and automation related advancements, rather than traditional aspects of procurement," according to this post — a welcome notion for Spend Matters, certainly (and at the same time, we must consider the survey's source!).

But of course, cost savings remains a priority, based on the report's findings. Also, tail spend is still a nagging issue.

And although platforms such as Amazon Business have made it their mission to help solve some of the issues above, man are those hard to focus on when Prime Day comes around!

How Procurement Organizations Can Approach Amazon Prime Day

We thought it'd be interesting to poke around Amazon Business when Prime Day festivities kicked off at 9 pm ET yesterday, just to see what we'd find.

Bottom line: it's tough to think about managing one's tail spend effectively when there are puppies around.

Either Amazon had server overload from all the shoppers online last night, or I had waaaay too many tabs open in my Chrome browser, but either way you don't miss much from the screenshot of the video above – it was basically a frozen image. The shot was from a Deal Reveal, which Amazon drops every once in a while to create some QVC-like hype. But how could I buy this adorable Furbo Dog Camera without seeing these pitchpeople and pitch-canine in live action?

Ultimately, my tail-spend habit was forcibly quashed.

In all seriousness, Amazon Business' blog had published a post about how procurement organizations can get the most out of Prime Day — which runs all day today. One way is to keep an eye on exclusive business-specific offers:

From uber-blocks of toilet paper to 30% off Pellegrino (if your office is fancy), there is something to be had for everyone.

Another is to stay glued to catch the best Lightning Deals, which are timeboxed and "will launch as often as every five minutes." When I hopped on the Industrial section of Amazon Business, it looked as though folks were taking advantage. (Sadly, no one had bit on the Apache 99000233 3/4 fuel swivel at that point.)

I made sure to see the effect of missing a lighting deal (in this case, for a pancake mix). It was sad.

So if your organization could use some tail-spend therapy today, by all means hit up Prime Day. And at the risk of this post sounding completely like an infomercial for Amazon, come back to us at the end of it after your boss learns of your unmanaged spend — and we'll help you tackle it once and for all. 

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