CombineNet, Inc., a provider of advanced sourcing technology, in conjunction with Aberdeen Group, today announced the results of Aberdeen’s 2011 State of Strategic Sourcing Research Report, “Building a Context for the Next Decade.” Co-sponsored by CombineNet, the study reveals that formal strategic sourcing functions will play a greater role in the enterprise, and it also clearly illustrates that there is tremendous opportunity for companies to drive better results by increasing their adoption and utilization of eSourcing and optimization-based sourcing analytics technologies.
Citing survey results from more than 315 global companies in three categories of performance (Best-in-Class, Average and Laggards), the top three strategic pressures were identified as increased cost savings (60%), improved sourcing performance (40%), and mitigating overall sourcing risks (32%).
The Aberdeen study shows that Best-in-Class companies are 30% more likely to leverage e-Sourcing technologies, like those offered by CombineNet, and attribute the following significant advantages over their peers based on the use of such tools: 57% lower rate of savings leakage; 72% higher rate of procurement contract compliance; and 37%% higher rate of spend under management.
Christopher J. Dwyer, Aberdeen Group Research Analyst/Global Supply Management and co-author of the report, said, “Our research in this new report finds that best-in-class companies are 30% more likely to utilize e-sourcing products to automate the facets of the strategic sourcing process, which expands opportunities for cost savings and taps new supply opportunities to better meet unique corporate requirements. E-sourcing technology providers like CombineNet offer solutions proven to drive measurable improvements.”
“What we find compelling in the report is that there remains significant opportunity for companies across all performance rankings to gain more advantage through the adoption of e-sourcing and optimization-based sourcing technologies,” commented Rich Wilson, President and COO of CombineNet. “The findings reinforce CombineNet’s mission to provide a best-of-breed advanced sourcing solution to improve the way organizations source their entire range of spend categories. Our offering gives users a heightened advantage in the challenge areas identified in the Aberdeen report, which are to drive more savings, increase standardization and collaboration, and reduce savings leakage.”
To access the Aberdeen report, please visit: http://www.aberdeen.com/link/sponsor.asp?spid=30410238&cid=6863
Jonathan runs Visibility Initiatives at the Pittsburgh Technology Council. The Council is the nation’s largest IT trade association with 1,350 members. One of our platforms is to provide visibility to Pittsburgh tech companies and the industry in general.