The Procurement Predicament
Businesses are operating in a world where technology is changing at unprecedented speeds, market competition is stiff and the impact of the current global political landscape is largely unknown. Meeting corporate objectives and achieving EBITDA targets requires companies to think outside of the box.
The Procurement Predicament explores the opinions of over 500 CFOs and financial decision makers across Europe, looking at the challenges they’ve faced in 2018 and the opportunities that lie ahead in 2019. The research explores competing operational priorities, the impact of prohibitive costs and the role of procurement as a potential partner to accelerate the business.
So, what are the views of today’s CFOs and financial decision makers?
- Nearly a quarter (23%) of companies expect business growth to be the most challenging EBITDA target to achieve in the next financial year
- Overall, high costs are the number one reason why companies in Europe will struggle to achieve their operational objectives, with one in four citing this reason
- One in five companies see long implementation timelines as a barrier to organisations achieving their short-term operational objectives
- The same number plan to externally source services to test and deliver new business initiatives, rising to nearly one in three in the Nordics (30%)
- 15% of companies currently outsource their procurement – with nearly three times as many companies in France (28%) outsourcing their procurement function compared to the UK (11%)
To learn more about the top challenges faced by today’s European CFOs and the changing role of procurement in 2019 and to get the FULL report fill out this form: