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Glossary / Also known as

Maverick spend

Another name for Maverick Spending.

Other names
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What does maverick spend mean?

Maverick spend is another name for Maverick Spending. Maverick spending refers to purchases made outside of an organisation's approved procurement processes, contracts, or preferred vendor agreements.

The two names mean the same thing. You will see "maverick spend" in some ledgers, reports and contracts and "Maverick Spending" in others. The full entry covers how it works, with examples.

Read the full definition of Maverick Spending

Topics

From the glossary

Related terms.

Spend management Maverick Spending Maverick spending refers to purchases made outside of an organisation's approved procurement processes, contracts, or preferred vendor agreements. Also called maverick spend, rogue spend, off-contract spend Accounts payable Accounts Payable (AP) Money a business owes to its suppliers and vendors for goods or services received but not yet paid for. Also called trade payables, sundry creditors, payables GST basics GST (Goods and Services Tax) India's unified indirect tax that replaced multiple central and state levies, creating a single national market for goods and services. Also called Goods & Services Tax TDS TDS (Tax Deducted at Source) A system where the payer deducts income tax at prescribed rates before paying the payee, and deposits it with the government on the payee's behalf. Also called withholding tax, tax deduction at source, tax withheld at source Statutory compliance Business Compliance The process of adhering to all applicable laws, regulations, and industry standards that govern business operations in India. Also called corporate compliance, regulatory compliance Spend management Spend Analysis Spend analysis is the process of collecting, cleansing, classifying, and analysing an organisation's expenditure data to identify savings opportunities, improve compliance, and inform procurement strategy. Also called spend analytics, spend visibility, procurement spend analysis
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