Cost Savings remain to be the Top Procurement Objective for 2015, cited by 79% respondents, followed by improving procurement efficiency (53%) & supplier performance (45%).

While this year’s report reflects strengthening of economic indicators, it also shows across the board declines in key procurement benchmarks marked with an interesting shift in C-Suite attention.

Some More Interesting Insights from the Report are:

• This year, the top two categories for procurement maturity, namely gaining momentum and extending procurement influence, show a dramatic 12-point decline compared to 2014.
• While contract compliance metrics hold their ground, slippage in cost savings benchmark suggests over reliance on market forces.
• CPOs are gearing up for the procurement challenge, with focus on process improvements and collaborative relationships with business partners.