Best-in-class procurement organizations (or "procurement masters" as they are called) save their companies nearly 10 times as much as it costs them to operation their procurement organizations, according to a new report from Accenture.
"For a company with a $1bn spend, this means a procurement master would incur costs of $8m and savings of $82m," the report says, adding that, "Masters spend half as much as low performers, yet they save 30 percent more."
Source: Purchasing, http://www.purchasing.com