Research Findings: Enhancing and Redefining the Role of Indirect Procurement

PRLog (Press Release) - Aug. 24, 2011 - BUYINGTEAM TO HOST ONLINE SEMINAR TO DISCUSS RESEARCH FINDINGS:
ENHANCING AND REDEFINING THE ROLE OF INDIRECT PROCUREMENT

London, UK – 24 August 2011. buyingTeam, Europe’s leading procurement outsourcing specialist, is to host an online seminar in conjunction with NelsonHall at 3.00pm (UK time) on 22 September 2011 to discuss the results of their recent joint study into procurement’s changing role within business, both now and into the future.

The study, entitled “Enhancing and redefining the role of indirect procurement” involved in-depth interviews with 120 CPOs and CFOs from blue-chip organisations across Europe and the US, aimed at better understanding how procurement is viewed at decision-maker level and the role that it plays within this broad cross-section of industry.  One of the study’s headline findings is that approximately 60% of Board level executives placed little to moderate importance on the value that indirect procurement can deliver back to their business.

However, experience has shown that better managed indirect expenditure (or non-core/goods-not-for-resale) can deliver a significant improvement to core financial performance indicators, reduce the levels of risk to which organisations are exposed and encourage better buying behaviour among purchasers and senior executives alike.

buyingTeam and NelsonHall will explain their findings and see to address the question of why indirect procurement isn’t higher up senior executives’ agenda and how organisations can overcome these perceptual challenges.

The 60-minute seminar will include:
• Current perceptions of the indirect procurement function and its desired future role within businesses;
• The challenges currently faced by indirect procurement functions;
• The business value that can be derived through indirect procurement;
• Explanations on why businesses struggle with delivering indirect procurement internally and how procurement outsourcing can enable internal functions to take on a business partner role within their company.

Speakers:
- Rachael Stormonth, Senior Vice President, NelsonHall
- Guy Strafford, Chief Client Officer, buyingTeam (Chair)

For joining details, visit: http://info.buyingteam.com/Enhancing-indirect-procurement

For further information:

buyingTeam:
Chris Gayner, Tel. 020 3465 4546, chris.gayner@buyingteam.com

Financial Dynamics, for buyingTeam
Jamie Robertson/ Seán Galvin, Tel. 020 7831 3113, buyingTeam@fd.com

About buyingTeam

buyingTeam is a procurement outsourcer and solutions provider, bringing extraordinary benefits to blue chip organisations across Europe and North America via an innovative knowledge-based shared services model.  Fundamental to our success is how we change the way our clients think about procurement, redefining it as an indispensable strategic tool.  By doing so, we release procurement’s potential to make our clients leaner, fitter, stronger organisations.

Having grown at more than 25% a year for over five years, buyingTeam is now the largest shared services procurement operation in Europe, constantly building and sharing our expertise across hundreds of categories and delivering an average saving, on total expenditure, of 8% - 15% back to our clients.… find out more about buyingTeam

# # #

buyingTeam is a procurement outsourcer and solutions provider, bringing extraordinary benefits to blue chip organisations across Europe and North America via an innovative knowledge-based shared services model.

Fundamental to our success is how we change the way our clients think about procurement, redefining it as an indispensable strategic tool at the heart of the business. By doing so, we release procurement’s potential to make our clients leaner, fitter, stronger organisations.

Having grown at more than 25% a year for over five years, we are now the largest shared services procurement operation in Europe, constantly building and sharing our expertise across hundreds of categories and delivering an average saving, on total expenditure, of 8% - 15% back to our clients.