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How to Spend Too Much for Stuff You Don–t Need

Oh, you–re doing that already? And you–re wasting time managing accounts payable every day, tracking down approvals for purchases you don–t understand? Here–s how small companies can tackle purchasing inefficiencies.

August 9, 2012

Mark Verbeck, like many CFOs, was starting to feel like the bad guy, the guy who always said no.

When he started working at Blade Network Technologies as CFO in 2008, the company, which makes networking software that lives inside blade servers, was a 50-person operation. Like many smaller businesses, it relied on tribal knowledge to manage its spending: everyone knew (or believed they knew) what everyone else was doing, and when anyone bought anything, everyone knew (or thought they knew) whether it made business sense. Read more...

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More Procurement Articles

  • Getting In with the Grid

    Some companies are cutting energy costs by dealing directly with the electric grid. December 16, 2011

  • Mend Your Spend

    When it comes to procurement, acting like a bigger business can lead to better prices and less risk. September 30, 2011

  • Buy It for Me

    Companies are increasingly using third-party procurement services, even for essential purchases. November 1, 2009

  • Legally Blind

    How some companies are getting a better handle on outside legal bills. August 19, 2009

  • Higher & Higher

    Amid volatile costs for raw materials, CFOs grow bolder about increasing product prices. November 3, 2008

  • Expense Management: Better Ways to Buy

    Sometimes costs don't need to be cut so much as captured, quantified, and reconsidered. September 1, 2008

  • Who's Where, When (and How Much)?

    Often overlooked, cost savings on meetings can be found more easily with a new generation of online meetings management programs. A recent convert: Xerox. March 1, 2008

  • The Key to Meeting-Cost Savings

    Xerox is among the growing number of companies turning to online meeting management services to aggregate spending and identify savings opportunities. January 16, 2008

  • How Low Can They Go?

    A new mathematical model aims to infer the best price a supplier can offer while still making a profit. November 1, 2007

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