The joint report presents the findings of research conducted by IDC on the state of procurement across Finland, Sweden, Norway, and Denmark. Almost 400 Procurement Professionals were surveyed as research for this white paper.
OpusCapita, the leading provider of source-to-cash solutions, announces today the culmination of extensive research into the state of procurement maturity across the Nordic region. Possibly the most extensive, recent research done on the Nordic market, this white paper clearly shows a market that (especially for indirect procurement) lacks procurement maturity in comparison to adjoining financial processes. The research tells us that technology is making some things easier while complexity has become the clear top challenge faced by procurement today. With complexity so obvious a challenge to procurement teams, the research reinforces this finding by showing us that services related purchasing is the most difficult of spend categories.
Additionally, the research highlights the changing role of procurement within the broader organization. Despite the fact that cost reduction is still the number one measure of success, procurement teams find their contribution to risk mitigation and business value are rising. This finding is especially interesting as it points to an increasingly influential CPO. A CPO who's team directly contributes to customer satisfaction and retention.
"It's very important for OpusCapita to conduct primary research like this with partners such as IDC. It's essential for us to really understand what the key challenges, motivations, and expectations are for our customers and this research is a great benchmark," states Patrik Sallner.
"An agile procurement function will become increasingly important as product and service development teams involve larger and larger parts of the value chain, and involve more and more of the entire ecosystem of suppliers and partners. Organizations will want to tie procurement not only to cost and bottom line, but also to topline growth. Complexity will continue to increase, and thereby also the importance of procurement to manage complexity in a way that is tied to business outcome". AS Martin Sundblad, Research Manager, IDC highlights.
International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for the information technology, telecommunications, and consumer technology markets.
OpusCapita enables organizations to buy and pay quickly and securely, with a real-time view of their business. Our customers use our source-to-pay and cash management to connect, transact and grow. OpusCapita processes hundreds of millions of electronic transactions annually on our Business Network. More information: www.opuscapita.com