Globalization, outsourcing, and a renewed focus on cost and compliance control have elevated the procurement function as a strategic component of business value creation -- and as a source of competitive advantage for the enterprise. And many top-performing procurement organizations share a common secret: they have outsourced procurement.
AberdeenGroup research reveals that leading companies are incorporating procurement outsourcing as a method to augment and accelerate their procurement transformation, not in lieu of creating a world-class capability.
These firms are outsourcing procurement to leverage economies of scale and improve execution and control of underperforming or non-core tasks and poorly managed spend categories. They are doing so while focusing internal resources on high-value activities such as strategic sourcing or supplier development. Companies outsourcing procurement are realizing reduced supply and operational costs, improved compliance, and enhanced performance and cycle times.
This report provides procurement outsourcing assessment frameworks and tools to help enterprises assess internal procurement competencies and scope outsourcing requirements, along with assessing and selecting the best-fit provider. Key components include:
- Opportunity Analysis Decision Framework
- Build vs. Buy Cost and Value Comparison
- Strategy and Investment Prioritization Framework
- RFI Outline and Template
Enterprise executives should view this report as a playbook for effective assessment of outsourcing strategies and procurement service providers.
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