What is Procurement Outsourcing?

Procurement is the process of purchasing goods or services from an external supplier at the best possible rate. Procurement involves a number of activities and processes that are essential for a company or an organisation to obtain necessary products or services to meet the needs of the acquirer in terms of quality, quantity and time. […]

5 Reasons to Consider Procurement Outsourcing

The success of a business depends on the organization’s ability to adapt to the changing market demands. To achieve this end it is important for organizations to remain focused on every aspect of the business, including the procurement area. Today’s highly competitive market requires organizations to be quick and accurate in their response to supply […]

Procurement Outsourcing Market Expected to Continue Domination

The procurement outsourcing market has been gaining prominence in the global market. The phenomenal growth of 10 percent registered in 2012 meant that the market reached a total contract value of 1.72 billion US Dollars with nearly 220 billion US Dollars in managed spending. Understanding the growth of Procurement Outsourcing Industry experts expect this graph […]

Procurement Outsourcing Challenges: Industry Trends Drive Growth

Procurement outsourcing has garnered significant attention in the BPO sector. This is due to the fact that in comparison to the other fields, it has a greater degree of impact on an organization. This area of outsourcing has been least understood but there has been an increased awareness of the benefits this can bring to […]

Procurement outsourcing in UK anticipates higher revenue growth in 2013

Procurement outsourcing services in the UK had recorded a slow rate of growth in recent years. The procurement industry is expected to make a comeback in 2013. The growth had slowed down for five years until 2012-13. An anticipated recovery in the outsourcing business will fuel the growth of revenue in this sector. By outsourcing […]

Outsourcing growth trends: Procurement takes off to a flying start in 2013

The growth trend for outsourcing in 2013 appears to be pretty strong. Even though the year started off at a slow rate, the procurement process has gained momentum and is poised to take off in a big way. A broad look at all elements of the process and functions of procurement reveals that many opportunities […]

Procurement outsourcing and supply chain management BPO defined: Everest research

Direct materials functions are often on the borderline of supply chain management or procurement outsourcing with the borders blurring even further in some cases. When functional elements like environmental safety and health, vendor management inventory, general supplier management, supplier compliance and materials management are introduced, it becomes hard to figure out to which category these […]

Top 10 Practices in Procurement Outsourcing

In the recent years, there has been a notable increase in the adoption of procurement outsourcing (PO) services by the companies across the world.  Last year, the outsourcing industry witnessed signing of more than 50 PO deals. According to the latest report, multi-process outsourcing has also grown significantly to become $190 billion worth market. As […]

Top 5 Procurement Outsourcing Service Providers: Everest Peak Matrix

Procurement outsourcing (PO) in 2011 witnessed a strong growth. The PO market grew by 14% according to the latest report by Everest Group. It is estimated that more than $190 billion were spent on PO by the companies all over the world. Today PO solutions are not only restricted to large companies, in fact mid-sized […]

Procurement outsourcing – A case study on Global eProcurement

Procurement outsourcing as an activity is fast gaining pace in the outsourcing industry. It refers to the transfer of procurement activities such as sourcing and supplier management to a third party service provider. Companies are increasingly outsourcing procurement activities to reduce cost, drive efficiency and to focus on core strategic issues. As a result more […]

Procurement outsourcing market size set to be $1.8 billion in 2012: Everest Report

According to a report published by leading research firm, Everest Group, the Procurement outsourcing market will grow at a rate of 15% in 2012. As per the Procurement Outsourcing Annual Report 2012, the Annual Contract Value (ACV) of new deals signed in 2012 will reach $1.8 billion. The report suggests that the Total value of […]

Top 10 issues in procurement business in 2012

February 8, 2012: The following are the top ten issues that are expected to impact procurement business: The main issue with any of the enterprise is the revenue growth and the next important issue is the improvement in operating margin. As a result, enabling growth and revenue were the important issues in procurement for going […]