Marketing spend is one of those areas which often goes untouched. While many larger companies don’t have a policy of having procurement manage this spend, smaller companies and especially startups don’t have in-house procurement teams but nonetheless, they still have a considerable marketing budget as they grow and scale as a business.
James Meads and Sarah Scudder dive into why many requests and POs for marketing spend are for print and promotional items. While this creates most of the work, it’s often often not where the real value is delivered, this being high frequency but low PO value in nature. By optimizing and automating this, marketing procurement can add more value on where the big bucks are spent, on digital and visual media.