Procurement Infographic – A Snapshot Of All You Need to Know

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We’re always on the lookout for good procurement content at Spend Matters and we especially like infographics, so long as they do what they are supposed to do: convey relevant or important information visually, succinctly and cleverly. So we liked this one, designed exclusively for Spend Matters, from Xchanging, business process, procurement and technology services provider, portraying data and related facts about procurement challenges, outsourcing trends and technology trends. It's called Procurement - What You Need to Know and can be viewed here Procurement what you need to know.

The infographic is based on the findings of a survey commissioned by Xchanging revealing the trends and challenges in sourcing and procurement outsourcing in the European manufacturing sector. Its content is also drawn from a Science Warehouse worldwide survey carried out in conjunction with eWorld Purchasing & Supply to ascertain the priorities and challenges of procurement organisations across both public and private sectors around the globe. The overall findings show much optimism in the procurement world with businesses demonstrating an increased awareness of the value of enhancing procurement functions to drive an upsurge in future growth.

The infographic lays out the top five challenges as highlighted by the respondents:

  • spend creep and cost containment
  • visibility of realised savings
  • compliance to contracts
  • leveraging technology
  • sufficiently skilled resources

It shows what proportion of companies feel they have a shortage of skilled staff and how many companies plan to invest more in procurement technology in the coming year. It outlines the top six benefits of investing in technology and the primary requirements for selecting a solution. It then turns to outsourcing and the percentages of companies either outsourcing or planning to outsource procurement in the next one to four years, and gives the reasons companies give for doing so.

You can read more indepth analysis of the studies by following the links to sources at the bottom of the infographic Procurement what you need to know.

Voices (3)

  1. alun@marketdojo:

    It is great to see customer service rating so highly on the primary requirements. As more software moves into the cloud, with greater commoditisation then we are going to see this element becoming more important from implementation through to second line support. Too many companies seems to judge their support on ‘how many phone calls answered’ rather than ‘how quickly they resolve the initial query’. After all, it is software as a ‘Service’

  2. Fatema Makda:

    There is no infographic on the link mentioned please check and then post it on such portals….

    1. Peter Smith:

      Seems to work fine as far as I can see – have emailed you a direct link anyway!
      Best wishes
      Peter

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