“Most World Class Organizations have realized that procurement is a key component for sustainable business success.” James Yates, COO of Cutting Edge Commerce.
Only 1 in 10 procurement professionals can extract critical information.
Managing spend across the supply chain would require expertise with understanding supplier strategies, competitor analysis and more importantly ,customized (Companies today need a service that collects business and market intelligence from multiple data sources across the world and delivers only relevant and customized information) real-time and confidential information in order to ensure sustainability. Market intelligence with emerging sourcing, planning, procurement, monitoring, and analytics have become extremely crucial in effective cost control.
The emergence of procurement intelligence providers can be primarily attributed to a critical gap that had been discovered, lack of good quality research as a result of data overload. Procurement executives spend approximately 45- 50% of their time on data analysis. A procurement intelligence provider’s role hence is crucial in the sense that they provide customized research that can be instantly integrated in to the organizations strategic plans. Procurement intelligence therefore— provides a “single point of truth” for all procurement-related data, analysis and intelligence.
Only 1 in 10 procurement professionals can extract critical information.
Managing spend across the supply chain would require expertise with understanding supplier strategies, competitor analysis and more importantly ,customized (Companies today need a service that collects business and market intelligence from multiple data sources across the world and delivers only relevant and customized information) real-time and confidential information in order to ensure sustainability. Market intelligence with emerging sourcing, planning, procurement, monitoring, and analytics have become extremely crucial in effective cost control.
The emergence of procurement intelligence providers can be primarily attributed to a critical gap that had been discovered, lack of good quality research as a result of data overload. Procurement executives spend approximately 45- 50% of their time on data analysis. A procurement intelligence provider’s role hence is crucial in the sense that they provide customized research that can be instantly integrated in to the organizations strategic plans. Procurement intelligence therefore— provides a “single point of truth” for all procurement-related data, analysis and intelligence.
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