The changing value proposition of procurement

Today's businesses are directing more and more of their budgets toward a complex web of global specialist providers and suppliers to help deliver on their company's core strategies.\r
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A recently released global study of nearly 2,000 publicly traded companies found that 69.9% of corporate revenue is directed toward externalized, supplier-driven costs. In the last three years alone, companies have increased their external spend as a percentage of revenue by nearly 4%.\r
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As a result, the role of procurement is magnified. Or, at least, it should be magnified. Suppliers must now be viewed as an extension of the company. Like the internal workforce, they must be incentivized, coached, sanctioned, and rewarded to help achieve corporate objectives.\r
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But does procurement really register on the C-suite's radar in a manner proportionate to its growing importance within the organization?\r
And are most procurement departments ready and empowered to take on their new responsibilities?\r
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This session discusses the need for procurement to take a step back and review its current value proposition in a more holistic manner.\r
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Read more about changing nature of business and procurement's role: Corporate Virtualization - A global study of cost externalization and its implications on profitability, by going to \r
http://insight.proximagroup.com/corporate-virtualization\r
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Our Expert: Simon Geale, Solutions Architect\r
Simon leads the Solutions Architecture team within Proxima, responsible for visioning and designing our customer success models. Simon has a long held belief that conventional procurement is often its own worst enemy and sees it as a personal goal to change how businesses view this often underappreciated corporate asset. Prior to joining Proxima, Simon had held various roles in consulting, outsourcing and delivery within multinationals such as Philips Electronics and Accenture. He has also bought nurses for the NHS! Simon holds a Masters in International Procurement (MAI) from ESC Bordeaux.