GEP and Everest Group discuss Top 10 Best Practices as market reaches critical mass
Clark, New Jersey
April 16, 2012
With more than 50 new contracts signed in both 2010 and 2011, the Procurement Outsourcing market has now generated over 300 engagements since 2002. Specialized procurement outsourcing providers are now procuring and managing over $190 billion in goods and services on behalf of their global clients. Earlier this quarter, GEP, a leading provider of procurement services and technology, sponsored a research report by Everest Group, a leading advisor to business leaders on global services, titled "Top 10 Best Practices in Procurement Outsourcing", detailing key insights on this fast growing sector.
Further underscoring the market's interest, GEP and Everest Group drew a large number of attendees from organizations interested in procurement outsourcing to their April 3, 2012 one-hour webinar in which they shared the report’s findings and provided insights on how current and prospective procurement outsourcing buyers can realize value from their procurement outsourcing relationships.
The cost base for procurement outsourcing is fundamentally different and significantly larger than traditional BPO segment. The potential bottom-line impact of procurement outsourcing can be extremely high making the value proposition very attractive.
"The Procurement Outsourcing sector has matured quite rapidly over the last five years fueled largely by the economic downturn and the intense pressure that this brought on the procurement community to drive further savings and efficiencies throughout their supply chains", said Wayne Clark, Vice President of Procurement Outsourcing at GEP.
"Now we're seeing much more rapid, broad-based adoption across all industries indicating that we're entering a new phase of accelerated growth. We have compiled the top lessons that we have learned over a decade of serving our clients in the procurement sector", said Saurabh Gupta, Vice President, Everest Group.
New Jersey-based GEP is a leading provider of procurement consulting, procurement outsourcing and procurement technology solutions, dedicated to realizing significant savings for their clients from procurement operations. Named a category leader in procurement outsourcing by the Black Book of Outsourcing and to the Supply & Demand Chain Executive 100 for six consecutive years, GEP is also ranked as one of the Fastest Growing Technology Companies in Deloitte’s Technology Fast 50. The company employs more than 800 people with offices and operations in North and South America, Europe and Asia. For more information, please visit GEP at www.gep.com
Everest Group is an advisor to business leaders on next generation global services with a worldwide reputation for helping Global 1000 firms dramatically improve their performance by optimizing their back- and middle-office business services. With a fact-based approach driving outcomes, Everest Group counsels organizations with complex challenges related to the use and delivery of global services in their pursuits to balance short-term needs with long-term goals. Through its practical consulting, original research and industry resource services, Everest Group helps clients maximize value from delivery strategies, talent and sourcing models, technologies and management approaches. Established in 1991, Everest Group serves users of global services, providers of services, country organizations and private equity firms, in six continents across all industry categories. For more information, please visit www.everestgrp.com