Procurement organizations often struggle to influence other groups’ spending, but you’d think they would be great at applying best practices to the one spend area that they CAN influence: their own spending. Yet, as we’ll see, they tend to throw most of those practices out the window when it comes to the provisioning of external resources such as technology and other services to arguably their most important customer – themselves. By squandering procurement’s tiny budget, with particular emphasis on its third-party spending on information-related capabilities, enterprises are hampering the >10X ROI potential that is possible with a world class procurement organization. There’s a million places where things go off the rails, and we’ll detail some of the biggest ones that we see, and how to get things back on track.
“Winner Take All” is a Losing Strategy for Sourcing Procurement Solutions [Plus+]
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