Spend Matters 50/50: The Hackett Group – A Provider to Know in 2015

100 companies - 100 days

We announced here and here our two (not ranked) lists: Spend Matters 50 To Know and 50 To Watch firms for 2015/2016. In the first case, this is our view of the 50 solution provider type organisations in the procurement industry that every senior procurement leader should be aware of and understand. The 50 To Watch are the up-and-coming firms  - those with interesting and relatively new solutions for our market. The 50 To Know are the key organisations in our industry that procurement executives need to have on their radar.

Having announced the lists, our US colleagues are now featuring each of the 100 firms in turn with an article giving an overview of each, with some headline Spend Matters thoughts on them. So on this site we will be giving you a brief extract of the US article, plus adding our own comments where we have anything useful to add from a European perspective. Sometimes we do, sometimes we don’t!

Here is what our US colleagues had to say about The Hackett Group:

The Hackett Group is the gold standard in back-office performance benchmarking – namely finance, procurement, IT and HR – primarily due to its rigorous approach to efficiency benchmarking and its ability to provide comparability on performance benchmarks (that drill down into specific process areas) and related “good practices.” ... Those that gain the best value from Hackett tend to be large companies that are somewhat earlier in their transformations or who are looking for deep support of areas such as performance measurement/management, global business services (GBS) and working capital management. But, smaller companies can still make use of some of Hackett’s publicly shared benchmarks and other related insights.

There's more on what our US colleagues have to say about The Hackett Group here. In Europe, really the same remarks apply. Hackett is certainly strong in the English speaking world and of course with large multi-nationals, and outside the Americas, has offices in London, Frankfurt and Paris (as well as India and Australia). Benchmarking needs to be done with caution in our opinion (just what is the "right size" for a procurement organization?) but Hackett is certainly at the top of the tree in their market.

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