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success tied directly to e-procurement sophistication The study, conducted between May and June of 2002 covering total of 150 businesses identifies 46 "high performers". These were companies that outperformed in terms of fourteen criteria, including profitability versus market average, market share versus competitors, cost saving from procurement, lower inventories, more flexible relationships with suppliers, customer satisfaction, and price competitiveness. What about cost savings? The report found that 63 percent of high performers saved 10 to 50 percent of their procurement budgets, compared to 3 percent by low performers. "On average, approximately 70 percent of corporate revenue is spent on purchased goods, so saving even three percent using electronic purchasing can translate into millions of dollars," according to Larry Lucker, Line56, The e-Business Executive Daily, May 7, 2002. |
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