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Best-in-Class Enterprises Realize 30% Lower Procurement Costs than Peers
After concluding a survey of over 260 procurement executives, a new study published by the Aberdeen Group (NYSE: HHS) and sponsored by Source One Management Services, LLC (www.sourceoneinc.com), indicates 40% of enterprises are expected to engage a procurement service provider in the next two years. PR9.NET December 14, 2007 - WILLOW GROVE, Pennsylvania After concluding a survey of over 260 procurement executives, a new study published by the Aberdeen Group (NYSE: HHS) and sponsored by Source One Management Services, LLC (www.sourceoneinc.com), indicates 40% of enterprises are expected to engage a procurement service provider in the next two years. Procurement plays an important role as a strategic component in the modern day business. A prior study sponsored by Source One concluded that sourcing deficiencies cost mid-sized enterprises $134 billion annually. Leading companies are looking outside of their organizations for expertise and support in their quest to drive strategic value through the enterprise and deliver results. According to Aberdeen, Best-in-Class enterprises are excelling in many performance metrics, demonstrating: - 8.3% savings due to sourcing efforts from outsourcing strategic sourcing - 30% lower costs to process a requisitions than all other companies - 55% rate of compliance to contractual agreements "Our research has discovered that top performing enterprises are more likely to leverage third-party expertise in the form of outsourcing," said Bill Browning, research analyst, Aberdeen. "Top performing companies realize strategic benefits such as gaining supplier and market intelligence and streamlining operations, while also delivering cost and process savings." Organizations are constantly searching for ways to bolster bottom-line performance by not only increasing revenue, but also by decreasing the cost of doing business. To facilitate these outcomes, one strategy employed is to leverage the solutions of Procurement Service Providers to streamline business processes and improve operational performance. The benchmark report "Procurement Outsourcing: A Strategic Imperative" recommends that enterprises should start by evaluating their current capabilities, resources, processes, and technology to establish a baseline to identify outsourcing needs, and then focus on strategic advantages that can be gained in addition to tactical, cost-cutting results. To obtain a complimentary copy of the report, visit: http://www.sourceoneinc.com/strategic_procurement_outsourcing.html # # #
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About WhyAbe.com WhyAbe.com is a completely free on-demand web sourcing tool that can be used by any organization or individual in any industry. WhyAbe allows buyers to post their specifications in a RFP / RFQ or Reverse Auction format and invite suppliers to provide quotes. Buyers have the ability to communicate with multiple suppliers at once and view all responses in the WhyAbe dashboard. Registering and using most e-sourcing platforms require a large ramp-up period and/or a large deployment budget. With these platforms, the cost of rollout can often mitigate any cost savings opportunities. WhyAbe’s quote tracking system assists companies reach compliance with Sarbanes Oxley. Obtaining value from WhyAbe is instant. There is no software to install or PC’s to configure. A computer equipped with the latest version of Internet Explorer or Firefox provides immediate access to the comprehensive and user friendly tool. WhyAbe provides a free download of the Firefox software on its homepage. |
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