E-sourcing a Growing Trend

Strategic sourcing functions will play a greater role in the enterprise, opening an opportunity for companies to drive better results by adopting more advanced sourcing analytics technologies, according to Aberdeen Group’s 2011 State of Strategic Sourcing Research Report, “Building a Context for the Next Decade.” Co-sponsored by CombineNet, providers of sourcing technology, survey results from more than 315 global companies were divided into three categories of performance: Best-in-Class, Average and Laggards. The top three strategic pressures were identified as increased cost savings (60%), improved sourcing performance (40%), and mitigating overall sourcing risks (32%).

The Aberdeen study shows that best-in-class companies are 30% more likely to leverage e-Sourcing technologies, and attribute the following advantages over their peers based on the use of such tools: 57% lower rate of savings leakage; 72% higher rate of procurement contract compliance; and 37%% higher rate of spend under management.

“Our research finds that best-in-class companies are 30% more likely to utilize e-sourcing products to automate the facets of the strategic sourcing process, which expands opportunities for cost savings and taps new supply opportunities to better meet unique corporate requirements,” said Christopher J. Dwyer, Aberdeen Group Research Analyst/Global Supply Management and co-author of the report.

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