Believed to be the next if not the biggest, certainly a big thing, ‘procurement outsourcing’ as a domain is poised to witness a giant leap in the year to come. A report by Everest Research Institute, the spending on procurement outsourcing has grown exponentially by around 35% in the year 2006. The report further informed that the annual managed spending was close to $40 billion.
Organizations across the verticals and globe have realized that best practice procurement outsourcing model can generate savings between 5 to 20% in every single category (now multiply that with multiple category, its big).
A number of European nations already have started practicing it. The biggies working in this sector are IBM, Accenture, Ariba etc.
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