- Comprehensive new study, Enterprise Procurement – Report on Current Challenges & Opportunities, probes a wide range of issues and responses to them by leading procurement organizations in the North America and Europe.
- Securing business unit support is currently the biggest challenge for procurement organizations, followed by shortage of skilled resources and analytical tools and capabilities.
- Meeting more aggressive cost reduction targets is top priority for procurement organizations this year, followed by achieving better alignment to business strategy and business units.
- Procurement organizations are increasingly looking at procurement outsourcing providers to plug gaps in skills, subject matter expertise and manpower, as well as to help achieve savings targets.
CLARK, NEW JERSEY, DECEMBER 11, 2013 – The biggest challenge facing enterprise procurement teams at leading global enterprises is achieving buy-in and support from internal business units and functional teams, according to a new research study by Information Services Group (ISG), a leading research and advisory firm, and sponsored by GEP, a leading global provider of procurement services and procurement software to Fortune 500 and Global 2000 enterprises.
In-house shortages of skilled procurement resources, as well as a dearth of analytical tools and in-house analytical capabilities, were also among the most salient issues facing enterprise procurement organizations, according to the study.
Along similar lines, the study found that enterprise procurement teams were looking more aggressively to third-party providers of outsourced procurement services to accelerate the achievement of their objectives – in main, meeting spiraling savings targets – and to increase spend under management and plug gaps in headcount, skills or capabilities gaps.
The comprehensive study also explored the deployment and use of both procurement technology and procurement service providers by global procurement organizations to overcome these challenges and opportunities. The full, 17-page report is available for download at https://www.gep.com/research-reports or visit the GEP Knowledge Bank on GEP.com.
Information Services Group (ISG) is a leading technology insights, market intelligence and advisory services company, serving more than 500 clients around the world to help them achieve operational excellence.
ISG supports private and public sector organizations to transform and optimize their operational environments through research, benchmarking, consulting and managed services, with a focus on information technology, business process transformation, program management services and enterprise resource planning.
Clients look to ISG for unique insights and innovative solutions for leveraging technology, the deepest data source in the industry, and more than five decades of experience of global leadership in information and advisory services. Based in Stamford, Conn., the company has more than 800 employees and operates in 21 countries.
GEP is a diverse, creative team of people passionate about procurement. We invest ourselves entirely in our client's success, creating strong collaborative relationships that deliver extraordinary value year after year. We deliver practical, effective procurement services and technology that enable procurement leaders to maximize their impact on business operations, strategy and financial performance.
Named a Star Performer in Everest Group's Peak Matrix of procurement services providers, Winner in the HfS Blueprint Report on Procurement Outsourcing Providers and to the Supply & Demand Chain Executive 100 for nearly a decade, GEP is also ranked a leader on Gartner's Magic Quadrant analysis of the world's top sourcing and procurement software providers. Clark, NJ-based GEP has 10 offices and operations centers in North and South America, Europe and Asia.
To learn more, please visit www.gep.com.
Vice President – Marketing & Analyst Relations