Hey everyone, we’ve been facing an issue with departments making unapproved purchases, and it’s starting to create problems with our budget. Some teams are going off the usual process, and it’s leading to confusion and higher costs. I’ve heard of maverick spending, but I’m not sure what exactly it is or how to handle it. Can anyone explain what it is and offer some advice on how to manage it?
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Maverick spending is when purchases are made without following the proper approval process, and it can affect your budget in a big way. I found a post that explains the causes, risks, and ways to reduce maverick spending. It talks about how to implement better controls, like clear rules and tracking systems. If you want to get a better grasp on how to manage it, take a look at more info. It helped me address the same challenge in my team.