Services Procurement & Contingent Labor Content

Sponsored Article

Using bridge solutions to speed up the consumerization of procurement 

ProProcure

What is a bridge solution and how can it help speed up the consumerization of services procurement — and why is that important?

Bridge solutions (or stop-gap solutions) are simply solutions that solve specific problems. These are typically problems that have not yet been addressed by P2P solutions because they are too niche or specific. Bridge solutions can tackle the problem differently and often come alongside laser-focused expertise and knowledge from the providers of these solutions.

Although the issue of consumerization certainly isn’t a niche one, there are many individual aspects that need to be addressed and automated to make true consumerization a possibility. For example, the larger more end-to-end P2P solutions (such as Coupa) do a fantastic job at automating the requisition-to-approval process and invoicing, but what they are not doing is providing the tools to automate the piece before the requisition gets raised. Bridge solutions can essentially act as a plug-in to cover any areas that are still being handled offline or by heavy manual data entry.

Procurement Services Market Landscape: The Continuum of Procurement Services [Plus+]

consultant

In Part 1 and Part 2 of this research series, we discussed some of the drivers in how procurement services are increasingly consumed in the market. In this next installment, we will evaluate the market itself and the spectrum of service types/sectors within it. Defining a market is not a one-dimensional activity. Markets are segmented along multiple variables, which we discussed in the previously mentioned research, but there are a few key dimensions worth exploring. We will not look at the traditional dimensions such as spend magnitude, market complexity, business impact, level of market fragmentation, etc. We assume that the practitioner has a fairly good understanding of major segments of management like consulting, outsourcing, contingent labor, etc.

The Procurement Services Market: Backdrop and Challenges [Plus+]

service

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.