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Pulse of Procurement Report 2013 Europe
Key Takeaways
Executive support for strategic procurement is very strong across Europe
Procurement professionals in eight of ten Europe-based companies say top executives have mandated greater strategic procurement control and enterprise management over corporate spending.
Procurement pros in Europe score strategic maturity somewhat higher than peers in other regions
However, this perception of relative maturity is not always reflected in performance indicators such as cost savings rates and other benchmark ratings for criteria such as procurement information quality and process automation, efficiency and effectiveness.
Europe is stronger-than-average on SUM, but weaker on cost savings
While Europe-based procurement organisations are somewhat above global par for spend under management (SUM) percentages, they are slightly below the global average (16%) for total cost savings tracked thus far and well below best-in-class cumulative cost-savings benchmarks (23%) established in a larger global benchmarking study* conducted by Zycus.
European companies have BIG savings objectives for the coming year
On average, European procurement teams are looking to bank cost savings equaling an estimated 10% of total enterprise spending (on par with the global average) while one in four European companies (26%) will pursue even higher cost-savings goals.
High frequency, high coverage analytics coincide with strong performance
Two new benchmarks introduced in the current Pulse of Procurement study suggest that increasing both frequency and coverage of spend analytics coincides with stronger cost savings and spend under management (SUM) metrics for procurement
Key Takeaways
Executive support for strategic procurement is very strong across Europe
Procurement professionals in eight of ten Europe-based companies say top executives have mandated greater strategic procurement control and enterprise management over corporate spending.
Procurement pros in Europe score strategic maturity somewhat higher than peers in other regions
However, this perception of relative maturity is not always reflected in performance indicators such as cost savings rates and other benchmark ratings for criteria such as procurement information quality and process automation, efficiency and effectiveness.
Europe is stronger-than-average on SUM, but weaker on cost savings
While Europe-based procurement organisations are somewhat above global par for spend under management (SUM) percentages, they are slightly below the global average (16%) for total cost savings tracked thus far and well below best-in-class cumulative cost-savings benchmarks (23%) established in a larger global benchmarking study* conducted by Zycus.
European companies have BIG savings objectives for the coming year
On average, European procurement teams are looking to bank cost savings equaling an estimated 10% of total enterprise spending (on par with the global average) while one in four European companies (26%) will pursue even higher cost-savings goals.
High frequency, high coverage analytics coincide with strong performance
Two new benchmarks introduced in the current Pulse of Procurement study suggest that increasing both frequency and coverage of spend analytics coincides with stronger cost savings and spend under management (SUM) metrics for procurement
Research Report
Key Takeaways
Executive support for strategic procurement is very strong across Europe
Procurement professionals in eight of ten Europe-based companies say top executives have mandated greater strategic procurement control and enterprise management over corporate spending.
Procurement pros in Europe score strategic maturity somewhat higher than peers in other regions
However, this perception of relative maturity is not always reflected in performance indicators such as cost savings rates and other benchmark ratings for criteria such as procurement information quality and process automation, efficiency and effectiveness.
Europe is stronger-than-average on SUM, but weaker on cost savings
While Europe-based procurement organisations are somewhat above global par for spend under management (SUM) percentages, they are slightly below the global average (16%) for total cost savings tracked thus far and well below best-in-class cumulative cost-savings benchmarks (23%) established in a larger global benchmarking study* conducted by Zycus.
European companies have BIG savings objectives for the coming year
On average, European procurement teams are looking to bank cost savings equaling an estimated 10% of total enterprise spending (on par with the global average) while one in four European companies (26%) will pursue even higher cost-savings goals.
High frequency, high coverage analytics coincide with strong performance
Two new benchmarks introduced in the current Pulse of Procurement study suggest that increasing both frequency and coverage of spend analytics coincides with stronger cost savings and spend under management (SUM) metrics for procurement
Key Takeaways
Executive support for strategic procurement is very strong across Europe
Procurement professionals in eight of ten Europe-based companies say top executives have mandated greater strategic procurement control and enterprise management over corporate spending.
Procurement pros in Europe score strategic maturity somewhat higher than peers in other regions
However, this perception of relative maturity is not always reflected in performance indicators such as cost savings rates and other benchmark ratings for criteria such as procurement information quality and process automation, efficiency and effectiveness.
Europe is stronger-than-average on SUM, but weaker on cost savings
While Europe-based procurement organisations are somewhat above global par for spend under management (SUM) percentages, they are slightly below the global average (16%) for total cost savings tracked thus far and well below best-in-class cumulative cost-savings benchmarks (23%) established in a larger global benchmarking study* conducted by Zycus.
European companies have BIG savings objectives for the coming year
On average, European procurement teams are looking to bank cost savings equaling an estimated 10% of total enterprise spending (on par with the global average) while one in four European companies (26%) will pursue even higher cost-savings goals.
High frequency, high coverage analytics coincide with strong performance
Two new benchmarks introduced in the current Pulse of Procurement study suggest that increasing both frequency and coverage of spend analytics coincides with stronger cost savings and spend under management (SUM) metrics for procurement
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