The information and analysis presented in this report are based on the responses received as part of the survey, as well as proprietary research developed by SirionLabs through extensive interviews with existing clients and prospects. The demographics of the respondents cover a broad range of industries, firm sizes and roles, as subsequently detailed in this report.\r
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The emergence of services outsourcing over the past two decades has radically transformed the procurement portfolio for most organizations. Traditionally dominated by goods, procurement\r
portfolios of large global organizations today are increasingly balanced between goods and services. Leading industry estimates suggest that the aggregate services buying by the Global Fortune 500 has nearly tripled, from $750 billion in 1994 to $2.1 trillion in 2013 (see Fig. 1). This means that over the past two decades, services procurement has grown five times faster than goods! As a result of this transition, the ratio of procured services to goods almost doubled over the past two decades, from 19% in 1994 to 35% in 2013.
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