European Leaders recently posted a new article summarizing the findings from an Efficio study that looked at the changing face of procurement in Europe. The study is based on an online survey of nearly 300 "senior executives" which one assumes have close ties to the procurement function. In short, the findings bode well for vendors and service providers who offer Spend Management capabilities that focus outside of the four walls, and less so for what I would term traditional ERP-centric eProcurement and SRM capabilities. According to the study findings, "The role of procurement is on the brink of fundamental change, according to senior executives in European companies. In the next five years the function's role will become one of managing external supply chains ... [but] there is still much more to be done to integrate procurement with its business partners, extract value from suppliers and attract the talent required to take a broader commercial role." You can download the full report by clicking here (free, but registration required). Given the Spend Management challenges Airbus has had of late -- based largely, it appears, on poor collaboration with its extended supply base -- the findings of the study are prescient, especially considering how it was conducted in the summer, before the A380 debacle really caught an updraft.