Procurement Outsourcing (PO) has become one of the fastest growing business process management segments. The PO segment is predicted to grow at an annual rate of 12% over the next 5 years. Several very large consulting firms, such as Accenture, IBM Global Services, and Capgemini, and a few procurement software vendors such as Ariba and IGC Commerce, are now offering outsourced procurement services.
PO is instrumental in bolstering procurement and supply chain maturity for an enterprise, adds organizational value, offers better quality services while reducing underlying risks from the supply chain process. A well thought out PO strategy and a competent, culturally fit service provider can help boost the efficiency of the procurement process and its value to the entire organization.
Key Procurement Outsourcing Services:
- Sourcing and category management, including sourcing, demand management and supplier performance management
- Sourcing support, including spend analytics, market analysis, spot buy, auction services and contract administration
- Procurement operations, including requisition processing, invoice processing, travel and expenses processing, supplier enablement and catalogue enablement