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Procurement outsourcing 'is gaining prominence'

25 May 2011

A growing number of companies in the UK and across the world are seeking to exploit the business benefits of procurement outsourcing.

This is according to Saurabh Gupta, vice president of global advisory service Everest Group, who told Procurement Leaders there is now a consensus that this practice can have a "really significant impact" in terms of savings.

According to Mr Gupta, the US and UK are leading the way in investing in procurement outsourcing, followed by emerging markets, due to an overall realisation that it can provide firms with easy access to infrastructure and systems beyond what they possess in-house.

"Procurement outsourcing gives them a quick remedy and it's a trend that I expect to continue as we move forward," he said.

This comes after a report from Everest Group published last month revealed that new contract signings and extensions in the procurement outsourcing market grew to record levels in 2010, with spending expected to rise further this year.

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Categories: Procurement & Supply Chain

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