Redefining the Future of Procurement

How European procurement teams are transforming indirect spend into managed spend to unlock efficiency gains and outperform their budgeting targets.

Procurement plays a vital role in the success of businesses and their supply chains, but professionals are facing a challenging environment where budgets are rising slower than inflation, and teams are expected to achieve more with fewer resources. ​ Managed spend programs are emerging as a key strategy to convert unmanaged indirect expenses into strategically managed categories, offering businesses new opportunities for spend control and visibility. ​

The "Redefining the Future of Procurement" survey examines how procurement teams are adapting to these challenges, drawing insights from over 500 professionals across the UK, Germany, Spain, Italy, and France. ​ The focus is on non-production spend, an often-overlooked area, and how innovative companies are leveraging tools like online marketplaces and AI-powered analytics to enhance efficiency and cost savings. ​

By adopting real-time data analytics and online marketplaces, procurement teams are gaining better control over spend while achieving operational efficiencies. ​ This report provides valuable insights into how businesses can navigate a difficult trading environment and optimize their procurement strategies for future success. ​