Elevate Indirect Spend to Connect Customers and Suppliers
We’re living in a hyper-connected and complex world that presents both risks and opportunities to business. The impact of the COVID-19 pandemic is the single biggest challenge faced by supply chains in the 21st century and is a stark illustration of how interconnected and vulnerable these links can be.
Current systems largely focus on managing direct expenditure, with indirect spend generally considered too difficult to tackle. And while it is complex, it warrants procurement’s time and attention. Globally, indirect spend is expanding at a rate of 7%1 a year. It accounts for more than 20% of overall expenditure for most organisations, and as much as 30% for some, making this untapped potential a chance not to be missed.
In this whitepaper, produced in partnership with Mercateo, we explore:
- The Challenges - how suppliers who provide repetitive and special products are not usually digitised and procurement
- The Opportunities - looking at the platforms that enables CPOs to empower internal customers to do their own buying from a wide selection of approved suppliers with an easy-to-use system
- The Benefits - To create a competitive advantage, organisations need to look at indirect spend through a new lens and discover the rewards this could have on its business.