You might not have heard about procurement outsourcing till yet but this area is expected to witness a jump in the coming year. As per a report by Everest Research Institute, the expenditure of procurement outsourcing grew by around 35% in the year 2006 and the annual spending was around $40 billion.
Companies have realized that procurement outsourcing has generated savings between 5 to 20% in every category which can be regarded as a good sign that this sector would certainly grow in terms of outsourcing.
A number of European nations have realized the advantage of procurement outsourcing and some of the major companies working in this area are IBM, Accenture, Ariba to name a few. I hope India is listening!!
