New study reveals multi-billion dollar cost savings through using E-procurement systems

The Global E-procurement report presents a comprehensive overview of the significance of using e-procurement strategies and how these strategies can lead to major cost savings. The report identifies the effectiveness of sourcing online, with a focus on preparing organisations to fully utilise Web 2.0 e-procurement, as well as identifying the major cost benefits that an e-procurement strategy brings.

With the virtual marketplace becoming an integral part of B2B purchasing, the report highlights a permanent shift towards the ’digital economy’.

Head of Research at SPG Media Research, Marcus Cameron, commented: “This report provides a comprehensive overview of e-procurement management issues and goes into great detail about how key global companies are using e-procurement. For example the US business sector is now saving $700 billion dollars per annum by developing e-procurement strategies.”

The report highlights the strategic thinking of key decision makers, and assessing how they are incorporating e-procurement into an overall organisational cost reduction strategy.

It goes on to examine in-depth, how senior business professionals are utilising the internet as a business resource, with specific analysis of online B2B portals as a tool in the procurement process.

The report also gages the opinions and viewpoints of procurement specialists and senior executives as to how they utilise the internet when sourcing new suppliers, as well as identifying how much organisations are e-procuring on a global basis.

The Global E-Procurement study indicates approx 90% of businesses worldwide are now involved in some form of e-procurement.

Organisational and managerial challenges involved with delivering a successful e-procurement strategy are also revealed such as integrating e-procurement as part of on going overall business strategy plans and looking at change management.

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Note to editors
About SPG Media Research

SPG Media Research is an in-house research function of SPG Media Group plc. SPG Media Group plc. is based in the UK with offices in London and Nottingham and Hyderabad, India. The organisation employs more than 240 people and quoted on the LSE AIM.

The report is available at the price of £499 from November 1st 2007.
The report findings are based on the responses of key employees based at 127 companies listed in the Forbes top 2000 list of companies.

A full editorial executive summary is also available,

For further information please contact:

Marcus Cameron
Research Manager
marcuscameron@spgmedia.com
+44 (0)20 7915 9767