Today’s CPOs Are Looking for Enhanced Tools and Strategies to Bring More Efficiencies to Their Procurement Organizations
Everest Group’s focus on the global services space provides a unique vantage point on how enterprises fare in their journey to maximize value from their business support services.
A key business support function where enterprises have seen rapid high-value returns is indirect procurement. Many service providers have intelligently applied automation and digital strategies to reduce costs significantly and materially improve spend reductions, operational efficiencies, compliance, and insights into the business.
A critical component of an effective global services strategy is building relationships with the right portfolio of service providers to meet your needs.
Service providers deliver strategies and capabilities:
- Committed outcome-based spend reductions based upon “addressable spend” of 5-15%
- Access to supplier diversity in any region of the globe
- Digital insights and analytics that accelerate the digital journey for the CPO
- Preparing and enabling customer organizations for the procurement roles of the future in a digital environment
- Access to a market intelligence eco-systems
- Access to greater capacity at a significantly lower cost structure for procurement operations
- Improved tail management and spot buy management through enhanced buying channels and category strategies
- Acceleration and ability to pull additional savings levers for policy and demand management
- Significant improvements in working capital
- Improved end-user experience bringing stakeholders what they need when they need it
- Improved risk management and compliance
Speak to Our Experts
We have helped many enterprises navigate the journey to identify and capture similar cost and value benefits. If you seek to head down this path and catch up to your peers – or are ready to capture the next wave of benefit – fill out the form below for consultative guidance.