Boston, Ma and Londo, February 08, 2014 – HfS Research and the Sourcing Interests Group (SIG) today launched the Procurement Value IndexTM, a semi-annual research-based benchmarking study designed to gauge the ongoing performance and capabilities of procurement functions worldwide to meet their desired business outcomes and measure the value being provided by procurement technology solutions and outsourcing services.
Procurement organizations continue to experience intensifying pressures to deliver more strategic categories across a widening array of geographies, while responding to increasingly demanding levels of performance and insight. Consequently, many organizations have considered leveraging outside services from consultants and outsourcers to advance their capabilities, in addition to investing in new technology tools and platforms.
HfS and SIG are responding to demand from the global procurement community to deliver a meaningful, relevant and ongoing benchmark analysis to assess the performance gaps across procurement disciplines. The Procurement Value IndexTM will benchmark the mix of procurement talent, technology and process capability every six months, across HfS‘ and SIG’s combined networks of more than 200,000 professionals, with the results being shared with HfS‘ and SIG’s practitioner communities.
HfS Research and SIG are inviting procurement, finance, technology and outsourcing vendor executives to share their experiences, viewpoints and intended actions in the first Procurement Value Index survey, which can be accessed by clicking here.
Speaking on the new benchmarking initiative, HfS Research CEO Phil Fersht stated, „The procurement profession has been experiencing unprecedented pressures to deliver more value to their organizations in areas such as improved spend management, analytics and insights that drive profitability and support management decisions. In addition, the procurement executive is increasingly needed to drive more strategic relationships with key suppliers and partners. The Procurement Value Index is the first global effort to benchmark the performance of the function and gauge the gaps where it needs to improve, and identify where procurement technology and outsourcing suppliers can deliver more value.“
SIG President and CEO, Dawn Evans added, „One of the things we hear most from SIG members is the need for more access to benchmarking data. We are delighted to partner with HfS on this important initiative. We believe it fills a big need in the sourcing and outsourcing community and will provide companies with a better understanding of how their challenges align with the broader industry.“
HfS and SIG will present the results at the Spring SIG Summit in Nashville on Thursday, April 3, 2014. Interested parties can click here for more details.
To learn more about HfS Research, please email insights(at)HfSResearch(dot)com. To learn more about SIG, email info(at)sig(dot)org or click here.
About HfS Research
HfS Research (http://www.HfSResearch.com) is the leading independent global analyst authority and knowledge community for the business and IT services industry. HfS is unique in that it serves the research and strategy needs of business operations leaders across finance, procurement, supply chain, human resources, marketing, customer management, IT and core industry functions.
HfS educates and facilitates discussion among the world’s largest knowledge community of enterprise services professionals, currently comprising 142,000 subscribers and differentiates itself with its global team of expert services analysts with real industry experience, provocative and opinionated research, market analytics and a view of technology as an enabler for business process improvement.
In 2013, HfS was named #1 in rising influence among leading analyst firms according to the 2013 Analyst Value Survey. In 2010 and 2011, HfS was awarded Analyst of the Year by the International Institute of Analyst Relations (IIAR), the premier body of analyst-facing professionals, and achieved the distinction of being voted the research analyst industry’s most Innovative Analyst Firm in 2012.
Now in the seventh year of publication, HfS Research’s acclaimed blog „Horses for Sources“ is widely recognized as the leading destination for unfettered collective insight, research and open debate of sourcing industry issues and developments.
About SIG
SIG, http://www.sig.org is a membership organization that provides thought leadership and networking opportunities to executives in sourcing, procurement and outsourcing from Fortune 500 and Global 1000 companies. It has served these professionals and opened dialogues with their counterparts in finance, HR, marketing and other business functions throughout its 22-year history. SIG is acknowledged by many as a world leader in providing „next“ practices, innovation and networking opportunities through its: global and regional events, online webinars and teleconferences, member peer connection services, content-rich website and online Resource Center, which was developed by and for professionals in sourcing and outsourcing. The organization is unique in that it blends practitioners, service providers and advisory firms in a non-commercial environment.
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Press Contact:
Sarah Holliman, VP Marketing
SIG
Boston, Ma and Londo
(510) 379-4707
http://www.sig.org