PROACTIS Announces Research into the CPO Agenda for a New Decade
News Facts
- PROACTIS, the spend control and eProcurement specialist, today announced its sponsorship of a new study by the Aberdeen Group - 'From Preservation to Prosperity: The CPO's Agenda for a New Decade'.
- The study examines the strategies and choices that separate high-performing procurement organisations from their peers, highlighting the future priorities and plans for procurement.
PROACTIS and Aberdeen study identifies spend control and eProcurement technology as key enabler to best-in-class procurement.
- The report identifies spend control and eProcurement technology - including eProcurement, eSourcing, ePayables, supplier portals and contract lifecycle management - as key enablers to best-in-class procurement.
- Respondents with standardised sourcing processes reported achieved negotiated savings 24% higher than their peers.
- Respondents that have standardised their contracting process noted a level of realised savings 42% higher than those without this capability.
- Enterprises that have automated requisition approvals noted a 19% shorter cycle time from initial needs identification through supplier selection and negotiation.
- Surveyed organisations with the ability to cleanse and classify their (spend) data reported identified savings 23% greater than all others.
- Leaders with active compliance monitoring in place achieve a 3% higher level of buyer policy compliance.
Supporting Quotes
- "This study identified spend control and eProcurement technology as a key enabler to best-in-class procurement" said Simon Dadswell, Director of Marketing, PROACTIS. "Organisations who adopt leading edge technology to standardise their sourcing and contract management processes, automate requisition approvals, and engage more effectively with suppliers are proven to out-perform their peers when it comes to cost reduction and process efficiencies."
- Scott Pezza, Senior Research Associate, and co-author of the Aberdeen study said: "For companies that have progressed past Laggard performance, the emphasis will shift away from addressing the initial fundamentals (establishing formal procedures, collecting and measuring rudimentary performance metrics) and will begin focusing on external concerns, such as maintaining supplier relationships and ensuring compliance with negotiated agreements."
Supporting Resources
- Download the report 'From Preservation to Prosperity: The CPO's Agenda for a New Decade' here.
