With all the focus on Software as a Service (SaaS) in the procurement market, many forget the importance of procurement services as a, well, service.
These services include not just consulting, but business process outsourcing (BPO), knowledge process outsourcing (KPO), supplier management, quality and auditing services, content/information services, network services, intelligence services, training/certification services, adjacent services (e.g., working capital, asset disposition, transportation, legal, group buying, M&A support). Some of these areas are procurement-specific, but many also are part of a broader services spectrum.
Procurement practitioners are getting smarter and more sophisticated in how they buy procurement services; however, they do face numerous challenges that prevent them from unlocking more value from the market and making their lives easier.
In this Spend Matters Plus brief, we outline 10 of those challenges.