There’s a widening gulf between the best procurement functions and the rest. Forrester’s survey found that only the top 17% of procurement functions have achieved advanced maturity – measured using our 25-point criteria scale. Moreover, those leading chief procurement officers (CPOs) look set to move further ahead. They are addressing more priorities than their competitors are, investing faster in advanced software, and overcoming obstacles that beginner and intermediate CPOs find insurmountable. In January 2020, Ivalua commissioned Forrester Consulting to evaluate the need for effective procurement management. Forrester conducted an online survey with 409 finance and procurement leaders at organizations with 1,000 or more employees across the UK, France, Germany, the US and Canada. Forrester found that there are drastic disparities in the measurement approaches of procurement organizations of various maturities that contributes to a widening gap in terms of value created and stature within the businesses.

Contributors: Ivalua
Categories: Whitepaper
SRC Type: Outsourcing, Procurement Outsourcing / Transformation