Services spend represents a large and strategic part of procurement’s purview. According to Economist Impact research, 66 percent of companies spend between 5 and 15 percent of revenue on services.
As processes become more mature and digital platforms simultaneously facilitate access and improve the distributed user experience, procurement needs to ensure that services spend management continues to improve.
In 2023, Art of Procurement and SAP surveyed the community and discovered:
Procurement’s potential for impact is rooted in collaboration,
Consistency is just as important as having a fit-for-purpose platform, and
How procurement’s approach to services spend management has improved but there are always new opportunities to improve
We recently updated the research to investigate new avenues of opportunity and look for indications that procurement’s services spend management practices continue to evolve and mature.
We hosted a webinar featuring Gordon Donovan, Vice President Research - Procurement & External Workforce at SAP, to discuss this year’s findings and recommendations.
