The Middle Market Needs Spend Management

While trying to wake up this morning over a strong coffee (the dirty martini and fruit bomb of a syrah from last night were not helping the situation), I read this press release from Aberdeen noting their findings from an analysis of middle market Spend Management practices. According to the study, deficiencies in sourcing and procurement "are costing mid-size U.S. firms $134 billion a year in missed supply savings opportunities." But the study also found "that continued pressures to reduce costs and improve spending visibility and control have made strategic sourcing improvements a priority for most mid-size enterprises ... [in addition] more than half of mid-size companies have either launched initiatives to formalize and improve strategic sourcing capabilities within the past year or will do so within the next year." For the purposes of the study, Aberdeen defined middle market as companies between $50 million and $999 million in revenue. You can download a free copy of the report here.

Jason Busch

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