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Home » Blog » Contract Management » What is the Pulse Rate of Procurement in Asia?

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Continuing the drive to understand procurement landscape across the globe, Zycus conducted an in-depth research amongst 140+ procurement professionals in Asia. The result of this research helps understand the current procurement scenario in Asia.

Some of the insights from the report are:

  • Executive support for strategic procurement is very strong across Asia

Procurement professionals in eight of ten Asia-based companies say top executives have mandated greater enterprise-level and strategic procurement control and management over corporate spending. 82%of Asia-based procurement teams cite express mandates to manage total enterprise spending.

  • Procurement pros score strategic maturity lower than peers in other regions

However, there is also strong evidence to suggest that Asia-based companies intend to catch up and/or surpass their global competitors very quickly.

  • Quality of information for procurement has big room for improvement

Procurement professionals across Asia score the quality of strategic business information available to them at better than ‘fair’ but less than ‘good’.

Greater than 90% of Asia-based procurement pros say cost savings is a key success metric for enterprise strategic procurement.

  • Labor intensity of procurement processes remains high across Asia

On a 1 – 5 scale, procurement pros in Asia generally score procurement-process automation near the midrange or lower.

Even though Asian procurement organizations have aggressive plans to invest in procurement technology, 62% of procurement professionals cite ‘internal resistance to change’ as their number one obstacle to success.

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