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Pulse of Procurement & Spend Management - UK
- Enterprise spend management is well entrenched among UK com- panies and UK companies are highly intent on reaching best-in-class maturity levels for spend management. However, at present, rela- tively few study participants believe their enterprises are approach- ing or at global best-in-class.
- Change management among spend stakeholders is the number one spend management obstacle for UK companies.
- More UK companies have invested in Procurement/eCatalog than in any other technology enabler for spend management.
- Supplier Performance Management (SPM) has the most attention at present in terms of where UK companies would like to invest in future technology enablement. Close followers are Electronic Invoice Presentment and Payment (EIPP), Supplier Information Management (SIM), and Spend Analysis.
- True process automation, high quality of information, and strong cross-functional collaboration/integration around procure-to-pay processes remain elusive for many UK companies.
- U K companies are somewhat more inclined to invent and custom- ize internally than they are to adopt best practices or solutions for spend management, as is, from the marketplace.
- T op two technology enablers favored by companies reporting the highest cost savings rates are eProcurement/eCatalog and Spend Analysis.
- Top three technology enablers favored by companies reporting the highest percentages of direct spend under management (SUM) are: eSourcing, Procurement/eCatalog, and Contract Management.