NEWPORT NEWS, Va.--(Perfect Commerce, the leading provider of eProcurement and eSourcing solutions, proudly announces their sponsorship of the latest report by the Aberdeen Group, one of today’s most trusted business intelligence research organizations. The report, The CPO's Agenda for 2012...and Beyond by Global Supply & Financial Management Analyst Christopher Dwyer, surveys contemporary procurement professionals, benchmarking what Best-in-Class organizations are doing to drive business efficiencies and operational value from the procurement process. “After a decade of providing solutions to our clients, we are excited to sponsor Aberdeen’s research that serves as a resource to other procurement professionals who have yet to implement an eProcurement solution,” said Perfect Commerce CEO Hamp Wall.)--
“After a decade of providing solutions to our clients, we are excited to sponsor Aberdeen’s research that serves as a resource to other procurement professionals who have yet to implement an eProcurement solution”
Many companies are still experiencing economic uncertainties and business challenges that propel the Chief Procurement Officer (CPO) into a critical position within his organization. CPO’s have the opportunity to align procurement initiatives and strategies with the enterprise objectives to become a force at the executive table. The research found that Best-in-Class companies, by implementing eProcurement and eSourcing strategies, have realized 82% more contracted price savings than their counterparts. These companies have a 54% higher rate of contract compliance and drive 42% higher rate of spend under management.
Some other key insights from the report include:
- 72% of Best-in-Class companies have a standardized and formal strategic sourcing program
- 65% of Best-in-Class companies use an eProcurement solution for automating the purchasing process
- 68% of Best-in-Class companies utilize a contract management system to automate the contract cycle
- Best-in-Class organizations are 46% more likely than the industry average to leverage supplier networks and portals.
Aberdeen’s recommendations for CPO’s include leveraging traditional as well as next-generation technologies—such as eProcurement and eSourcing solutions—to support key business initiatives within the company. To read more from The CPO’s Agenda for 2012…and Beyond download the free report here, and look for Perfect Commerce at the CPO Summit hosted by the Aberdeen Group, November 13-14, in Boston.
About Perfect Commerce:
Perfect Commerce offers world-class sourcing and procurement solutions for companies of all sizes. Global customers and partners include market leaders such as Hostess, Starbucks, BNP Paribas, Johnson Controls, Inc., YRC Worldwide and Honeywell, Inc. www.perfect.com.
Reference: Christopher J. Dwyer, The CPO’s Agenda for 2012…and Beyond. Aberdeen Group, Oct. 2012.